The Economic Development Innovations Singapore, or EDIS, has ceased to be a substantial shareholder of Addvalue Technologies (SGX:A31
) .
In an SGX filing dated April 14, EDIS disposed 55 million shares for a total consideration of $5.17 million, which translates to an average price of 9.4 cents.
This latest transaction saw EDIS stake in Addvalue Technologies down from the previous 6.45% to 4.95%.
EDIS became a substantial shareholder of Addvalue in January, after converting bonds to shares worth $2,148,227 at 1.7 cents each. The sale means EDIS has pocketed a profit of $5.17 million
Addvalue Technologies shares closed at 9.8 cents on April 14, up 4.26% for the day with more than 191 million shares changed hands. For the past one year, share price was up by 988%.
