KUALA LUMPUR (Nov 11): KUB Malaysia Bhd, of which Datuk Seri Johari Abdul Ghani is the largest shareholder, saw 50 million shares, representing a 8.98% stake, cross in an off-market transaction on Friday (Nov 11).

According to Bloomberg data, the 50 million shares crossed in one block for a total of RM27.5 million or 55 sen a share. The parties involved in the transaction were not immediately known.

KUB Malaysia’s shares closed unchanged at 55 sen on Friday, valuing the company at RM306.1 million. Some 270,100 shares changed hands.

Johari, a former second finance minister, is the chairman of KUB Malaysia. Through his private investment vehicle JAG Capital Holdings Sdn Bhd, he held a 32.96% stake in KUB Malaysia, according to the company’s 2022 annual report.

Johari is contesting in the 15th general election (GE15) as a Barisan Nasional candidate in a bid to regain the Titiwangsa seat in Kuala Lumpur that he lost in 2018’s GE14.

KUB Malaysia is involved in the business of liquefied petroleum gas, agriculture, information and communications technology,  engineering and civil works.

Source : THE EDGE