FRONTKEN CHAIRMAN GAINS CONTROL OF COMPANY AT HEFTY DISCOUNT

August 3, 2018

August 03, 2018

KUALA LUMPUR (Aug 3): Ng Wai Pin, the chairman and chief executive officer of Frontken Corp Bhd, has emerged as the largest shareholder of the semiconductor cleaning firm after an indirect acquisition of 290.99 million shares, or a 27.77% stake, at a total price of RM113 million.

The acquisition was made via Dazzle Clean Ltd, an indirect, wholly-owned unit of Singapore-based private equity firm Dymon Asia, in which Ng is a substantial shareholder, according to Frontken’s stock exchange filings today.

Bloomberg data showed that the shares were crossed via direct transactions in two blocks, with the first block of 94.51 million shares traded at 39 sen per share and the second block of 18.49 million shares exchanged at 38 sen per share.

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By Samantha Ho

Source: The Edge. Permission required for reproduction.

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