KUALA LUMPUR (Jan 2): Shares of ICT solutions provider Datasonic Group Bhd rose as much as 3.38% this morning, reaching its highest level since October 2016.

At the noon break, Datasonic was up 1 sen or 0.68% at RM1.49, valuing it at RM2.01 billion.

In the last six months, the stock has more than doubled from 66 sen on July 2, 2019.

On Tuesday, its managing director Datuk Abu Hanifah Noordin ceased to be a substantial shareholder after selling off his remaining 4.96% stake in the group.

Datasonic's bourse filings showed Abu Hanifah had sold his remaining 66.92 million shares in the group via a direct business transaction to Datuk Razali Mohd Yusof, a director with Marine & General Bhd.

Since early December, Abu Hanifah has been observed to be disposing of his shares in Datasonic, including through his vehicle Gerbang Subur Sdn Bhd. Prior to this, Abu Hanifah was the single largest shareholder of the company.