KUALA LUMPUR (May 18): Petroleum Sarawak Bhd non-executive chairman Tan Sri Dr Hamid Bugo has emerged as the second-largest shareholder of Zecon Bhd, following his purchase of 19.051 million shares in the Sarawak-based construction and property firm.
Hamid’s total stake rose to 13.4% or 19.751 million shares after the acquisition, according to a bourse filing on Wednesday (May 18).
A separate bourse filing showed that Digital Networks Sdn Bhd had ceased to be a shareholder of Zecon on May 17, following the disposal of 13.392 million shares.
The acquisition and disposal were made via a business transaction.
According to Zecon’s 2021 annual report, Digital Network was Zecon’s second-largest shareholder with 13.392 million shares or 9.09% of the company as at March 23, 2022.
Zecon’s shares last traded at 41.5 sen on May 13, which translates to a market capitalisation of RM61.2 million.