Alan Wang of Asdew Acquisitions has on Jan 22 sold his stake of 58,546,000 Low Keng Huat shares at 78 cents, reads a filing to the exchange.
The stake sold by Wang on Jan 22 is equivalent to 7.9%.
Just on Jan 14, Wang emerged as a substantial shareholder when he paid $33,636,195 for 43,542,000 shares, which works out to 77.25 cents each. Wang was already holding 10,351,000 shares.
Low Keng Huat is in the midst of a privatisation offer by its managing director Marco Low Peng Kiat, who had on Jan 14 revised his offer to a "final" price of 78 cents, up from the original 72 cents per share offer tabled last November.
As of end of Jan 22, Low and his concerted parties control and have received valid acceptances of shares that brings his stake to 622,318,747 shares, or 92.19%.
Low Keng Huat shares closed at 78 cents on Jan 22.
