Asia Poly disposes of shares, rights shares in Ta Win for RM8.33 mil

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KUALA LUMPUR (June 10): Manufacturer of cast acrylic sheet Asia Poly Holdings Bhd has disposed of 39 million ordinary shares and 36 million rights shares in Ta Win Holdings Bhd for RM8.33 million.

In a filing with Bursa Malaysia today, Asia Poly said the shares were disposed of on the open market between May 7 and June 9, 2021, after reviewing the overall market conditions.

“The sale of proceeds from the disposal will be used for working capital and other investment.

“The disposal did not have any material effect on the issued and paid-up share capital and the shareholdings of substantial shareholders of the company,” it said.

Asia Poly added the disposal also did not have any material effect on the gearing of the group.

At close today, shares of Asia Poly improved 3.57% to 29 sen with 12.53 million shares transacted.