Deepak ceases to be substantial shareholder in KUB

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KUALA LUMPUR (Jan 18): Businessman Deepak Jaikishan has ceased to be a substantial shareholder of KUB Malaysia Bhd, after disposing of a 1.88% stake in the company this week. 

KUB Malaysia’s filing with Bursa Malaysia today showed that the carpet dealer sold two blocks of shares on Jan 14 and 15, totalling 10.45 million shares. 

Deepak first emerged as a substantial shareholder in KUB Malaysia on Jan 9, after he acquired 32.23 million shares or a 5.79% equity interest in the company.

KUB’s share price closed unchanged at 40 sen today, giving the group a market capitalisation of RM222.59 million.