Friday 29 Mar 2024
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KUALA LUMPUR: Shares in Nexgram Holdings Bhd dropped as much as 12.5% or one sen to 7 sen yesterday. The stock was also one of the most active counters on Bursa Malaysia, with 14.84 million shares changing hands.

On Tuesday, its founder and chief executive officer Tey Poh Yee disposed of 1.48% stake in the company.

Nexgram’s share price touched an intraday high of 8 sen in early trade to end the day at 7.5 sen, down 6.25% from the previous day’s close.

Tey has been trimming his stake in Nexgram since Nov 7. He owned as much as 26.12% of Nexgram as at May 8, 2014,  but subsequently reduced his stake to 20.02% as of yesterday.

He also acquired 100,000 shares in Protasco Bhd on Tuesday. He now owns about 57.521 million shares or a 17.16% stake in the company.

 

This article first appeared in The Edge Financial Daily, on December 4, 2014.

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