KUALA LUMPUR (April 1): Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has ceased to be a substantial shareholder of Axis Real Estate Investment Trust (Axis REIT), after disposing of 1.83 million shares in the trust on March 17.
In a filing with Bursa Malaysia today, Axis REIT said the fund's stake slipped marginally below the substantial shareholder's threshold of 5% to 4.84% or 53.63 million shares following the disposal. It previously held a 5.06% stake in Axis REIT.
According to Bloomberg data, Axis REIT's biggest shareholders are the Employees Provident Fund with a 12.4% stake as at March 28, followed by Skim Amanah Saham Bumiputera, 11.6% stake as at Jan 28, and Lembaga Tabung Haji, 5.63% stake as at March 25.
Axis REIT shares closed down four sen or 2.48% at RM1.57 today, for a market capitalisation of RM1.74 billion.