New substantial shareholder emerges in Advanced Packaging

New substantial shareholder emerges in Advanced Packaging
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KUALA LUMPUR (May 6): KSL Capital Sdn Bhd has surfaced as a substantial shareholder of Advanced Packaging Technology (M) Bhd after acquiring 1.22 million shares or a 6.2% direct stake of the packaging material manufacturer.

According to the company's filing with Bursa Malaysia on Friday (May 6), KSL Capital bought the block of shares last Friday (April 29) via an open market transaction.

The company did not disclose the value of the transaction.

Back-of-the-envelope calculation indicates that KSL Capital had paid around RM3.4 million for that substantial stake, based on Advanced Packaging’s closing price of RM2.80 on April 29.

KSL Capital’s background is not immediately known.

Shares in Advanced Packaging closed unchanged at RM2.80, valuing it at RM57 million.

Liew Jia Teng