KUALA LUMPUR (May 28): Jakel Group managing director Datuk Mohamed Faroz Mohamed Jakel has emerged as a substantial shareholder in Sedania Innovator Bhd, after acquiring 43.53 million shares or a 12.55% stake in the group.

Mohamed Faroz had acquired the shares via a private placement, Sedania Innovator said in a stock exchange filing.

Sedania Innovator was the second biggest gainer on Bursa Malaysia today, rising as much as 40 sen or 29.2% to a record high of RM1.77.

At 3.08pm, the counter was trading at RM1.66, still up 29 sen or 21.17%.

The counter was actively traded with 95.8 million shares changing hands.