The 25 million shares were sold on two separate occasions, with the first tranche of 21.25 million shares sold on Tuesday (Nov 23) at 40.9 sen per share. KPower shares settled at 56.5 sen on both days. The sale of those shares for about RM10.38 million in total has trimmed Mohd Abdul Karim's stake in KPower to 15.226% comprising 82.65 million shares from 19.832% or 107.65 million shares previously. At the closing price of 56.5 sen apiece on Wednesday, Mohd Abdul Karim's stake in the renewable energy contractor is worth around RM46.7 million. The share trades of Serba Dinamik, together with Sarawak Consolidated Industries Bhd (SCIB) — two companies that Mohd Abdul Karim is actively involved in — have been suspended recently.

Source: The Edge Markets November 25, 2021 01:19 UTC