The selling price of $1.16 is a discount of around 6.5% to the Feb 24 closing price of $1.24.
Yeah Hiang Nam, executive chairman of Valuemax Group, and his wife, Tan Hong Yee, have sold 34.8 million shares at $1.16 to a group of investors. Following the sale, they retain a controlling stake of 81.53%. According to the company's FY2024 annual report, as at March 10 2025, Yeah held a deemed interest in 85.09% of the shares.
The investors that have forked out $40.37 million to buy these shares include abrdn Asia, Amova Asset Management Asia, Avanda Investment Management, and ICH Synergrowth Fund.
