OKP Holdings has seen a series of significant changes among the level of ownership of its shareholders. The road works contractor's second-largest shareholder reduced its stake substantially while a group of new shareholders have bought in.
On April 21, CS International, the company's second largest shareholder, sold $23.87 million worth of shares via a married deal at just 48.5 cents each to Or Kim Peow Investments, the private vehicle used by the controlling Or family to hold the listed entity.
With the sale, CS International, an entity held by China Sonangol — which is known to have interests in Africa's energy sector — has seen its stake in OKP reduced from 14.05% to 4.89%.
Concurrently, new shareholders have emerged, or increased their respective stakes.
Having bought the shares from China Sonangol, the Ors sold 16 million shares worth $11.76 million, at 73.5 cents each to Ginko-AGT Global Growth Fund.
With this, the fund, managed by AGT Partners, has increased its stake to nearly 35 million shares, or from 3.535% to 6.513%, emerging as a substantial shareholder.
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Also, via a series of married deals of smaller amounts, Or Kim Peow Investments sold shares to other unnamed investors also at 73.5 cents each. Following which, reduced its stake to 55.58%.
OKP Holdings shares gained 14.38% year to date to close at 84 cents on April 22.
