Fund manager Collery ceases to be KESM's substantial shareholder

Fund manager Collery ceases to be KESM's substantial shareholder
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KUALA LUMPUR (Nov 5): New York-based SC Fund Management LLC president Peter Collery has ceased to be a substantial shareholder in KESM Industries Bhd, after disposing of 33,258 shares in the open market.

Collery, the president and co-founder of the fund management firm, holds indirect interest in KESM.

"The total number of ordinary shares in KESM Industries Bhd held by SC Asian Opportunity Fund, L.P. is 658,058 ordinary shares and such number of shares together with the shares held by other registered holder referred to herein [are] less than 5% of the aggregate of the ordinary shares in KESM Industries Bhd," the statement read.

According to an early filing dated Nov 4, Collery had disposed of 14,942 shares on Oct 5 via the open market.

Year-to-date, the share price of the semiconductor device testing firm rose more than 107%.

KESM rose as much as seven sen or 1.4% to an intraday high of RM5.07 before closing two sen or 0.4% higher at RM5.02 today, for a market capitalisation of RM215.93 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)