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KUALA LUMPUR (Aug 20): Avillion Bhd, which saw heavy trading of its shares this week, has notified that its managing director See Ah Sing has ceased to be a substantial shareholder of the group.
This follows his disposal of 116.60 million shares or a 12.32% stake in the integrated travel and hotel group on Aug 19.
See, who was the largest shareholder of the group, has been gradually paring his stake since Monday (Aug 16). It disposed of 88.08 million shares that day, followed by another 17.50 million shares on Tuesday (Aug 17), resulting in his stake shrinking to 15.07% from 28.91% previously.
With the latest disposal of the 116.60 million shares, See has ceased to be a substantial shareholder in Avillion as his stake has come down to 2.75%, according to the group’s filing today.
Avillion, formerly known as Reliance Pacific Bhd, was among the top actively-traded stocks on Bursa Malaysia for the past four trading days, with a daily volume of between 110.72 million shares and 654.40 million shares.
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