KUALA LUMPUR (March 28) : Singapore-based Oversea-Chinese Banking Corp Ltd (OCBC) has emerged as a substantial shareholder in Malaysian CONSTRUCTION [] firm WCT BHD [] after acquiring a 5.01% stake in the builder.
In a statement to Bursa Malaysia on Wednesday, WCT said OCBC had purchased the stake comprising 40.98 million shares in the open market on Monday. At WCT shares’ closing price of RM2.51 on that day, OCBC’s stake could be worth RM102.86 million
Meanwhile, WCT also indicated in a separate statement that Kumpulan Wang Persaraan (KWAP) had acquired a collective 2.14 million shares in the builder last Wednesday and Thursday. Following the purchase, KWAP owns 6.04% in WCT.
Shares of WCT settled at RM2.38 at lunch break on Wednesday.
In a statement to Bursa Malaysia on Wednesday, WCT said OCBC had purchased the stake comprising 40.98 million shares in the open market on Monday. At WCT shares’ closing price of RM2.51 on that day, OCBC’s stake could be worth RM102.86 million
Meanwhile, WCT also indicated in a separate statement that Kumpulan Wang Persaraan (KWAP) had acquired a collective 2.14 million shares in the builder last Wednesday and Thursday. Following the purchase, KWAP owns 6.04% in WCT.
Shares of WCT settled at RM2.38 at lunch break on Wednesday.
