PETALING JAYA: The Employees Provident Fund (EPF) has acquired a 5.02% stake in 99 Speed Mart Retail Holdings Bhd (99 Speed Mart) through a direct off-market transaction, according to a filing with Bursa Malaysia
On June 4, the EPF purchased 421.79 million shares in the convenience store chain, marking the fund’s first holding in 99 Speed Mart, which became part of the KLCI index in December last year.
While details about the seller and the transaction price were not disclosed, the block of shares is estimated to be worth RM868.89mil, based on the retailer’s closing price of RM2.06 per share on June 4.
Founder and chief executive of 99 Speed Mart, Lee Thiam Wah, remains the largest shareholder with a 79.68% stake in the company.
The counter rose by one sen to close at RM2.10, giving the company a market value of RM17.64bil. - Star
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