Satvinder Singh sells all shares in DGB Asia

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KUALA LUMPUR (Nov 12): Barely two weeks emerged as a substantial shareholder in DGB Asia Bhd, Satvinder Singh has disposed all his shares in the company, according to the lastest filing to the stock exchange today.

The ICT outfit told Bursa Malaysia this afternoon, Satvinder has ceased to be a substantial shareholder in the company as he had sold a total of 8.5 million shares or 5.21% stake he owned.

The filing to Bursa reveals that Satvinder sold the block of shares on Nov 10, however, did not disclose the price of the transaction.

Satvinder bought a total of 4.5 million shares or 2.76% stake in DGB Asia on Oct 20 on the open market and emerged as the substantial shareholder in the company.

DGB share price has climbed from 10 sen in August to 17 sen in mid-September. It was featured as Stocks with Momentum by The Edge Research last month. The stock closed unchanged at 15.5 sen, giving it a market capitalisation of RM26.08 million.