Media Prima's shares down to 48 sen at mid-day

Media Prima Bhd saw its share price eased half-a-sen to 48 sen at mid-day following a news report that Umno has sold its 11.09 percent stake in the company to tycoon Syed Mokhtar Al-Bukhary.

Shares of Malaysia's largest media group opened 1.5 sen better at 50 sen at 9am.

As at mid-day 1.45 million shares had changed hands.

The Edge Financial Daily reported today that Media Prima saw 123.02 million shares, equivalent to 11.09 percent of the group’s issued capital of 1.11 billion shares, crossed off-market yesterday.

"According to Bloomberg data, the shares were transacted in one block, worth a total of RM73.81 million," said the report.

- Bernama