Chin Well MD buys 21.53 million shares

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KUALA LUMPUR (Sept 22): Chin Well Holdings Bhd's managing director and co-founder Tsai Yung Chuan has bought a total of 21.53 million shares in the manufacturer of nuts and bolts, Bursa Malaysia filing showed today. The shares were equivalent to a 7.9% stake.

The acquisition was done by Benua Handal Sdn Bhd, with Tsai deemed interest, on Sept 19 via off market. The shares were valued at RM1.40 apiece, which was 12.5% lower than the day's closing price of RM1.60 on the open market.

With the acquisition, Tsai now holds 158.41 million Chin Well shares, equivalent to a 58.12% stake.