KUALA LUMPUR (April 29): The Employees Provident Fund (EPF) had ceased to be a substantial shareholder of Media Prima Bhd after selling 17.66 million shares in the company on Thursday (April 23) at a time when the company’s share price rose.
According to Media Prima’s Bursa Malaysia filings, the EPF’s Media Prima share disposal followed a sale a day earlier (April 22) when the fund disposed of nine million shares in the company.
After the sale, the EPF had a 5.21% stake comprising 57.79 million shares in Media Prima, according to the company.
The EPF pared its Media Prima stake to current levels from 11.645% on February 19, 2020, Media Prima said.
At a glance, the EPF had sold its Media Prima shares and ceased to be a substantial shareholder at a time when the company’s share price had risen in recent days. On Thursday (April 23), Media Prima shares closed at 16 sen compared to 13 sen on April 17.
Today, Media Prima shares were traded up one sen or 6.67% at 16 sen at 11:55am for a market value of RM177.47 million. The stock saw some 26 million shares traded.
For financial year ended Dec 31, 2019, Media Prima reported a net loss of RM177.85 million versus a net profit of RM58.62 million. Its latest net assets per share stood at about 54 sen.
Source: The Edge Markets