Instacom CEO sells 15.1 mil shares at 22 sen each

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KUALA LUMPUR (Sept 17): Anne Kung Soo Ching, chief executive officer and director of Instacom Group Bhd, sold 15.1 million shares or a 2.15% stake on Sept 11 at 22 sen per share, a filing with Bursa Malaysia showed today.

The Sarawak based company told the stock exchange the shares were disposed through a married deal, which refers to trades done between clients within the same brokerage.

After the disposal, Kung still holds 10.95% stake or 76.9 million shares in the company.

Instacom develops and markets computer software. It also provides solution for infrastructure development for mobile phone operators, such as erection of telecommunication towers and related civil works for tower sites.

Shares of Instacom closed unchanged at 24 sen, with 3.62 million shares done. The company has a market capitalisation of RM168.5 million.