Asiabio ceases to be substantial shareholder in GPA

TheEdge Wed, Nov 18, 2020 12:54am - 5 months ago

KUALA LUMPUR (Nov 17): GPA Holdings Bhd announced its substantial shareholder Asiabio Capital Sdn Bhd has ceased to be a substantial shareholder of the company, after the latter disposed of 49 million shares or about 5% stake in the company on the open market yesterday, the group’s filing with Bursa Malaysia showed.

The share divestment pared down Asiabio Capital’s stake in automotive battery maker to just 21 million shares or 2.14% stake in the company. 

Asiabio emerged as a substantial shareholder of GPA in less than two months on Sept 30, when it bought 50 million shares or 5.1% stake on the open market.   

Subsequently, Asiabio raised its stake to 7.14% or 70 million shares. 

GPA’s share price was hovering between 16 sen and 20.5 sen for the period from Sept 30 until Nov 16.

Asiabio owns a stake in a list of companies including AT Systematization Bhd (28.29% as of May 29, 2020) and Vsolar Group Bhd (14.12% as of July 16, 2020).

At market close today, GPA dropped 1.5 sen to 18.5 sen,bringing a market capitalisation of RM181.39 million. Some 114.54 million shares were traded. 

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