KUALA LUMPUR: Kinsteel Bhd chief executive officer Datuk Henry Pheng Chin Guan, son of founder and Kinsteel managing director Tan Sri Pheng Yin Huah, has disposed of 1.874 million shares or a 0.178% equity interest in the company.
In a filing with Bursa Malaysia yesterday, Kinsteel showed that the shares were disposed in three tranches last Friday, and on Monday and Tuesday at between 14 sen and 14.5 sen apiece.
Chin Guan now holds a 1.54% direct stake or 16.03 million shares as well as 220,000 indirect shares representing a 0.02% stake in the company.
Shares of Kinsteel closed unchanged at 14.5 sen yesterday, bringing a market capitalisation of RM152.16 million.
This article first appeared in The Edge Financial Daily, on January 8, 2015.