Nexgram tumbles as much as 12.5%

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KUALA LUMPUR (Dec 3): Shares in Nexgram Holdings Bhd dropped as much as 12.5% or one sen to 7 sen in morning trade today. The stock was also one of the most active counters on Bursa Malaysia, with 13.2 million shares changing hands as at 2.36pm.

Yesterday, its founder and chief executive officer Tey Poh Yee disposed of 1.48% stake in the company.

Nexgram’s share price touched an intra-day high of 8 sen in early trade and settled at 7.5 sen as at 2.36pm, down 6.25% from yesterday's close.

Tey has been trimming his stake in Nexgram since Nov 7 this year. He owned as much as 26.12% of Nexgram as at May 8, 2014, subsequently reducing his stake to 20.02% stake as of yesterday.
 

He also acquired 100,000 shares in Protasco Bhd yesterday. He now owns about 57.521 million shares or a 17.16% stake in the company.