Johor ruler further raises stake in 7-Eleven to 15.52%

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KUALA LUMPUR (Dec 6): The sultan of Johor, Sultan Ibrahim ibni Almarhum Sultan Iskandar, has further raised his stake in 7-Eleven Malaysia Holdings Bhd to 15.52% on Nov 16, from 9.84%.

A filing with Bursa Malaysia today showed Sultan Ibrahim acquired 63.08 million shares, bringing his total shareholding in the group to 172.37 million shares.

The ruler has been increasing his equity in the convenient chain store group since Aug 8, when he bought 93.69 million shares, representing a 8.43% stake.

Sultan Ibrahim remains as the second biggest individual shareholder in the company.

Based on 7-Eleven’s closing price of RM1.56 today, his stake is valued at RM98.4 million. The group’s market capitalisation is RM1.73 billion.

7-Eleven’s biggest shareholder Tan Sri Vincent Tan owns a 0.58% direct interest and 41.14% indirect stake in the company as of Nov 30.