KUALA LUMPUR (Feb 22): MR DIY Group (M) Bhd’s early investor Creador has ceased to be a substantial shareholder in the home improvement retailer after it offloaded another 65 million shares on Wednesday (Feb 22).

Creador's deemed interest in MR DIY fell to 4.93% or 464.55 million shares, after disposing of the 65 million shares, which represented a 0.69% stake.

The private equity firm — via Hyptis Ltd — had held a 15.3% stake in MR DIY when the group was listed on Bursa Malaysia in October 2020.

Hyptis' 4.93% equity interest in MR DIY currently comprises a direct stake of 3.47%, and another 1.46% stake held through its subsidiaries Amanita Regalis Sdn Bhd and Andira Cordata Sdn Bhd.

Coupled with the 65 million shares disposed of on Wednesday, Hyptis has disposed of a cumulative 354.41 million shares or 3.76% since September last year.

The Bee Family Ltd is MR DIY’s largest shareholder with a 50.76% equity interest, followed by Platinum Alphabet Sdn Bhd with 6.1%. Platinum Alphabet is also an early investor in MR DIY and had held a 6.9% stake when the group was listed.

Shares in MR DIY ended six sen or 3.43% lower at RM1.69 on Wednesday, giving the group a market capitalisation of RM15.94 billion. Year to date, the counter has fallen 15.5%.

MR DIY posted a marginal 1.13% increase in net profit to RM136.08 million for the fourth quarter ended Dec 31, 2022, from RM134.55 million a year earlier, impacted by the one-off prosperity tax of RM10.2 million. Quarterly revenue rose 9.27% to RM1.07 billion from RM975.39 million previously, mainly driven by positive sales contributions from new stores which grew to 1,080 from 900.

For the full year, MR DIY's net profit rose 9.52% to RM472.95 million from RM431.83 million in the previous year, with revenue up 18.15% to RM3.99 billion from RM3.37 billion.

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Creador pares down stake in MR DIY to 5.61%