Khazanah Nasional offloads another 1.92% stake in TT Vision for RM10.8 mil

TheEdge Tue, Sep 26, 2023 09:32pm - 9 months View Original

KUALA LUMPUR (Sept 26): Khazanah Nasional Bhd has continued offloading its stake in Penang-based automated test equipment (ATE) maker TT Vision Holdings Bhd, this time selling a 1.92% stake for RM10.8 million.

According to bourse filings, the sovereign wealth fund via Malaysian Technology Development Corp Sdn Bhd offloaded six million shares or a 1.28% stake on Sept 22, and three million shares or a 0.64% stake a day prior.

A look at Bloomberg showed that both blocks of shares were sold at RM1.20 per share, totalling RM10.8 million for all nine million shares.

The disposals pared Khazanah Nasional’s stake in TT Vision to 16.94% or 79.26 million shares.

TT Vision listed on the ACE Market of Bursa Malaysia in January this year at an initial public offering (IPO) price of 34 sen. Against this IPO price, Khazanah’s disposal price of RM1.20 is over three times more.

Earlier this month, Khazanah had already disposed of a 4.62% stake in TT Vision for RM25.92 million ― 21.6 million shares at RM1.20 per share.

TT Vision’s other substantial shareholders are Goon Koon Yin and Wong Yih Hsow, who each own a 23.99% stake in the company.

Shares in TT Vision ended one sen or 0.83% higher at RM1.21, giving the company a market capitalisation of RM566.28 million.

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