Tatt Giap sees major shareholder exit

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KUALA LUMPUR (Jan 17): Arich Holdings Inc has ceased to be a substantial shareholder of Tatt Giap Group Bhd after disposing of its entire 13.89% stake in the group. 

Tatt Giap notified Bursa Malaysia today that Hong Kong-based Arich sold its entire 23.69 million shares on Jan 14. 

Arich first emerged as a substantial shareholder in Tatt Giap in June 2015, after it converted its irredeemable convertible unsecured loan stocks (ICULS) into 27.52 million shares. 

Tatt Giap’s share price fell one sen or 4.35% to 11 sen today, giving the group a market capitalisation of RM25.18 million. 

The counter saw 32.62 million shares exchanging hands.