KUALA LUMPUR (Dec 7): Creador has ceased to be a substantial shareholder of GHL Systems Bhd, less than a year after it made a costly return.
The private equity firm disposed of four million GHL shares today, according to its filing with Bursa Malaysia. Three days ago, it sold 87 million shares, representing a 7.62% equity interest.
This means that Creador is left with a 4.75% stake in GHL.
On Feb 28, Creador made a re-entry as GHL’s substantial shareholder, after acquiring 46.18 million shares, raising its direct interest to 6.66% or 49.9 million shares.
The firm had forked out about 70% more than its 2017 exit price for the acquisition, according to a report in The Edge in April.
Subsequently, Creador has been gradually mopping up GHL shares up till April 6, bringing its shareholding to 12.92% or 96.81 million shares.
GHL’s shares closed eight sen or 4.06% lower at RM1.89 today, valuing the group at RM2.16 billion. Year-to-date, the stock has risen 105.4% from 92 sen.