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Friday, August 22, 2014

PDZ says several parties keen to buy stake from major shareholder (Star)

PDZ Holdings Bhd said its major shareholder, understood to be Pelaburan Mara Bhd (PMB), has been approached by several parties keen on buying the latter’s stake in the company.

A filing by PDZ with Bursa Malaysia was in response to a news report about an associate of tycoon Tan Sri Halim Saad being interested in buying a more than 10% stake in PDZ from PMB. The report named James Chan of Kenmakmur Holdings Sdn Bhd as the likeliest associate.

PDZ has been in the news lately for the active movement of its shares, which have risen from 17 sen at the start of this month to hit a seven-year high of 37.5 sen on Tuesday...

In April, PMB paid RM41mil for a 27% stake in PDZ from major shareholder Tan Sri Robert Tan. ..

Last week, PMB sold five million shares at 22.5 sen each in an off-market deal. The sale would have netted PMB a gain of RM175,000, based on its entry cost of 18 sen per PDZ share.

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