KUALA LUMPUR (June 24): Parkson Holdings Bhd (KL:PARKSON), whose shares have climbed 24.4% since June 19, has a new substantial shareholder in Irelia Management Sdn Bhd.
According to Parkson’s bourse filings on Tuesday, Irelia Management acquired 78.3 million shares or a 6.815% stake in the department store operator via open market transactions between June 20 and 24.
No price tag was disclosed on the shares traded, however, based on respective closing prices on which the shares were traded, the block was valued at RM18.6 million.
Based on a filing with the Companies Commission Malaysia, Irelia Management is wholly owned by NTG Holding Ltd.
NTG Holding is the asset holding company of the NTG Strategy Fund SP offered by private equity and alternative asset management firm AEI Capital Group, according to NTG Holding’s website.
Parkson’s largest shareholder is its chairman and managing director Tan Sri Cheng Heng Jem, with a 54.57% stake.
Shares in Parkson ended half a sen or 2% higher at 25.5 sen, valuing the company at RM286.87 million. Year-to-date the stock is up 18.6%.
The Edge Malaysia: https://theedgemalaysia.com/node/760246