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NewsTune Group sells 30m shares in Tune Ins
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Tune Group sells 30m shares in Tune Ins
by Cals Tue 26 Aug 2014, 23:34
| Tune Group sells 30m shares in Tune Ins |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Tuesday, 26 August 2014 21:13 KUALA LUMPUR (Aug 26): Tune Group Sdn Bhd has disposed of 30 million shares or a 3.99% equity stake in Tune Ins Holdings Bhd at RM2.20 per share, bringing its total shareholding in the latter to 17.42% or 130.95 million shares, according to the filing with Bursa Malaysia. The share sale has also trimmed Tan Sri Tony Fernandes' and Datuk Kamarudin Bin Meranun's — both of whom are owners of Tune Group — shareholding in the insurance group. Post-disposal, Fernandes' and Kamarudin's indirect shareholding stands at 31.07% or 233.56 million shares in Tune Ins. Apart from Tune Group, Fernandes and Kamarudin hold the indirect stake through their shareholding in AirAsia Bhd and Tune Money Sdn Bhd. AirAsia holds 102.61 million shares or 13.6% equity stake in Tune Ins, while Tune Money owns 1.63 million shares or 2%, in the insurance group. Tune Ins traded between RM2.29 to RM2.36 during the day. Listed on Feb 20, 2013, with an IPO price of RM1.35, Tune Ins has risen 70.4% to close at RM2.30 today, giving it a market capitalization of RM1.73 billion. |
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