KUALA LUMPUR (July 16): Kossan Rubber Industries Bhd’s main shareholder Tan Sri Lim Kuang Sia and his family have been selling Kossan shares as the stock's price climbed further.

According to the group’s filing with Bursa Malaysia today, Lim’s privately-held vehicle, Kossan Holdings (M) Sdn Bhd, sold five million Kossan shares on July 13 and another 17 million shares on July 14, for a total of 22 million shares or a 1.7% stake in the group.

Meanwhile, on July 14, Lim’s spouse Puan Sri Chow Cheng Moey sold 500,000 Kossan shares held in her own name.

Coincidently, Kossan’s share hit an all-time high on July 14, closing at RM13.50, after rising to an intra-day high of RM14.94.

On April 17, Lim had disposed of a total of 20.65 million shares or a 1.6% stake in Kossan on the open market, done through Kossan Holdings (M) Sdn Bhd. At that time, Kossan shares was trading at RM5.55.

From the run-up in Kossan’s share price, which had jumped more than two times from the end of last year, Lim has seen his personal wealth jump by RM4.86 billion to RM7.51 billion, from RM2.65 billion previously.