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MN Holdings Directors Sell Shares Worth MYR28 Million Via Off-Market Transactions

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Three directors of infrastructure developer MN Holdings (KLSE:MNHLDG) have sold a cumulative 10 million shares worth 28 million ringgit to institutional funds through off-market transactions, according to a Monday filing to the Malaysian bourse.

Managing director Toh Eng Keat and executive directors Loy Siong Hay and Dang Siong Diang sold shares at 2.80 ringgit each, representing a discount of about 3.4% to MN Holdings' closing price of 2.90 ringgit on Monday.

While Loy and Toh each sold 4 million shares for 11.2 million ringgit, Loy's direct stake was reduced to 97.71 million shares, or 14.6%, and Toh's stake to 85.35 million shares, or 12.8%.

Meanwhile, Dang sold 2 million shares worth 5.6 million ringgit and was left with 39.30 million shares, or a 5.9% stake.

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