KUALA LUMPUR (Jan 7): Perbadanan Nasional Bhd has ceased to be a substantial shareholder of Caring Pharmacy Group Bhd, after disposing of 400,000 shares via an off market transaction today.

Following the disposal, the government agency holds some 4.8% stake in Caring Pharmacy.

PNB has been paring down its stake in the retail pharmacy group over the last month.

It first emerged as a substantial shareholder in Caring Pharmacy with a 12.76% stake, in October 2015.

With the disposal, Datuk Zurainah Musa, an executive director at Berjaya Corp Bhd, has also ceased to be a substantial shareholder as of yesterday. 

Back in 2015, Caring said Zurainah emerged as its substantial shareholder, as she is deemed interested in the company's put and call option agreements with Perbadanan Nasional, dated Oct 26, 2015.

Shares of Caring closed unchanged at RM2.53 today, for a market capitalisation of RM550.8 million. The stock has climbed some 53% over the past year.