CEO Morning Brief

Green Packet’s Second Largest Individual Shareholder Leong Seng Wui Exits Group

Publish date: Fri, 24 Mar 2023, 08:41 AM
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TheEdge CEO Morning Brief
Leong Seng Wui, Green Packet’s second largest individual shareholder, exits the group

KUALA LUMPUR (March 23): Green Packet Bhd saw its second largest individual shareholder Leong Seng Wui disposing of all his shares in the group on March 20 and 21.

On March 23, Green Packet in a filing with Bursa Malaysia stated that Leong, who is also the group’s executive director, had ceased being its substantial shareholder after he disposed of all of his shares early this week.

Prior to the disposal, Leong owned 124.34 million shares, or 8.91% of the issued shares of Green Packet, which he acquired back in January 31, 2022.

Leong disposed of 59 million shares on Monday (March 20) for RM3.45 million and 65.34 million shares on Tuesday (March 21) for RM3.7 million.

After his emergence in Green Packet in January 2022, he was appointed as an executive director of the group on Feb 10, 2022.

Besides serving on Green Packet’s board, Leong is also on the board of Revenue Group Bhd since Jan 17. He has also been on the board of Classita Holdings Bhd since June 15, 2022. Between May 30, 2018 and Oct 25, 2019, he served on the board of XOX Networks Bhd (previously as Macpie Bhd).

The largest shareholder of Green Packet is Datuk Seri Lim Kok Han, with an 18.09% stake through Silver Peak Sdn Bhd. Lim first emerged as the largest shareholder of Green Packet on Oct 25, 2022, after he subscribed to 358.18 million of shares through a private placement.

Green Packet’s share price closed one sen or 22.22% lower at 3.5 sen, giving it a market capitalisation of RM69.9 million.

Source: TheEdge - 24 Mar 2023

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