KUALA LUMPUR: PetroSaudi International Ltd’s effective stake in UBG Bhd will rise to 89.8% after three shareholders agreed to sell their stakes, UBG said in a statement to Bursa Malaysia yesterday.
Concordance Holdings Sdn Bhd, PPES Works (Sarawak) Sdn Bhd and Majestic Masterpiece Sdn Bhd would sell PetroSaudi a total 449.5 million shares in UBG at RM2.50 each, it said.
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