Advanced Holdings' (SGX:BLZ) controlling shareholder, Wong Kar King, sold 17 million shares in the company to Asia Agri Renewable Fund, according to a Tuesday filing with the Singapore Exchange.
Shares of the company were up nearly 8% in Wednesday trading.
The shares represent around 16.78% of the company's issued and paid-up share capital. Following the transaction, King now holds an 8.30% stake in the company.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.