EPF ceases to be substantial shareholder in Inari Amertron

EPF ceases to be substantial shareholder in Inari Amertron
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KUALA LUMPUR (Nov 26): The Employees Provident Fund (EPF) has ceased to be a substantial shareholder of Inari Amertron Bhd, the company notified Bursa Malaysia on Friday (Nov 26).

The provident fund’s stake in the company dropped below 5% after it disposed of 1.40 million shares on Nov 24, according to the filing.

The EPF had also traded in Inari shares on Nov 22 and 23, buying two million shares and selling 1.66 million.

Based on back-of-the-envelope calculations, the latest transaction on Nov 24 leaves EPF with 183.92 million shares in Inari.

The largest shareholder of Inari is Insas Bhd, with an indirect interest of 14.52% or 535.79 million shares as of Nov 18.

Other substantial shareholders of the company include Kumpulan Wang Persaraan (Diperbadankan) (KWAP) with a direct stake of 7.98% or 295.01 million shares  as of Nov 25.

Inari is principally engaged in the outsourced semiconductor assembly and test services and electronics manufacturing services industries.

The company's shares finished one sen or 0.24% higher to RM4.17 on Friday, for a market capitalisation of RM15.39 billion.

Since the beginning of the year, the stock has rallied by 53.31%, from RM2.72 on Jan 4.

Lam Jian Wyn