KUALA LUMPUR: Business tycoon Tan Sri Datuk Robert Tan Hua Choon is no longer a substantial shareholder of Paragon Globe Bhd after selling 37 million shares in the company on August 2, 2024.
According to a filing with Bursa Malaysia Securities, Tan, who is also the chairman of Spanco Sdn Bhd sold the shares through an off-market transaction.
The filing did not disclose the transaction's value, however the company's stock was trading around 29 sen yesterday.
After the sale, Tan's shareholding has decreased to 36.3 million shares, representing a 4.8 per cent interest.
The company last traded at 29 sen a share, giving it a market capitalisation of almost RM217 million.
On August 2, Paragon Globe announced a conditional sale and purchase agreement with Bridge Data Centres Malaysia VI Sdn Bhd, for the proposed disposal of almost eight hectare land in Johor Bahru, Johor for RM99 million cash.