managing-director-sells-shares-in-malaysias-gamuda

Managing director sells shares in Malaysia's Gamuda

The $100 million deal sees Dato Lin cut his stake to 1.7%, but he shows commitment to the company by agreeing to an 18-month lock-up.
Dato Lin, the managing director of Malaysian infrastructure, construction and civil engineering company Gamuda, last night sold about two-thirds of his shareholding in the firm, raising M$322 million ($100 million)

The sale, which will see Lin reduce his stake to about 1 7% from just over 5 2%, came as the share price has eased back slightly from a 52-week high of M$5 75 in early January Yesterday the stock closed at M$4 98 after falling 3 3% The share price spiked up from about M$4 94 in the final minutes of trading, however, which was believed to have led to a slightly wider discount than initially planned

The Credit Suisse-led deal comprised 70 million...
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