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This article first appeared in The Edge Financial Daily on April 17, 2018

KUALA LUMPUR: Supptech Holdings Sdn Bhd, the largest shareholder of Penang-based ACME Holdings Bhd, has continued to pare down its stake in the company with another off-market trade, a move which has downgraded it to being the second-largest shareholder of the group.

Supptech sold 41.94 million shares to Inspire Sense Sdn Bhd on April 11, according to stock exchange filings by the property developer and plastic components manufacturer yesterday.

The block of shares was exchanged at 34 sen per share.

Subsequently, two individuals — Tang Tiam Hock and Ooi Kian Chuan — have also emerged as substantial shareholders of ACME via their interest in Inspire Sense.

The stake exchange cut the total stake held by Supptech, the private vehicle of ACME chairman Datuk Seri Dr Lee Kuang Shing, to 20.07%. Lee also has a direct stake of 2.6% in ACME.

The acquisition made Inspire Sense the third-largest shareholder of ACME. Nada Wangi Sdn Bhd — after acquiring 19.99 million shares or a 9.5% stake from Supptech on March 1 — is now the group’s largest shareholder.

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