According to a Bursa filing by utilities firm YTL Power International Bhd on Dec 26, the Employees Provident Fund (EPF) has disposed of nearly 15 million shares of the company.

The notice dated Dec 23 was received by the "listed issuer" on Dec 26. Specifically, the total number of shares disposed of amounted to 14,926,300 shares.

Following the disposal of the shares, the EPF is no longer a major shareholder of YTL Power.

The shares of YTL Power rallied on Dec 19 after the 1BestariNet investigation concluded with a "no-charges" verdict in favour of the company.

Based on the closing prices of RM4.08 on Dec 19 and RM4.11 on Dec 23, the proceeds from the sale of shares could total at around RM61 million. On Dec 20, the shares of YTL Power surged to the three-month high of RM4.30, potentially raking in RM64 million for the EPF.

Market observers noted that between Nov 25 to Dec 13, the EPF bought a total of about seven million shares of YTL Power on two occasions within the price range of RM2.80 to RM3.80.

Share this:

• Facebook

• X