The Employees Provident Fund Board disposed of 11.42 million shares of MALAYAN BANKING BHD [] on Aug 6 and 9, reducing its stake to 759.62 million shares.
A filing with Bursa Malaysia on Friday, Aug 13 showed the EPF had also acquired two million shares on Aug 6.
The recent transactions showed the EPF's shareholding in Maybank was reduced to 10.73%.
Maybank rose six sen to RM7.72 as at 3.12pm with 1.64 million shares done.
The Edge FinancialDaily reported on Friday that the EPF has been selling down its stakes in several companies in the first week of the month, with the more notable ones being the disposal of large blocks in IOI CORPORATION BHD [] and TELEKOM MALAYSIA BHD [] (TM).
The report said while it was unclear as to whether the transactions at more than 10 counters resulted in gains
Written by Joseph Chin
The Edge Malaysia
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