Mokhzani told StarBiz that the sale came about following the relinquishing of his executive positions in the company.
“I will remain as a substantial shareholder with at least 10%. I will continue to protect my interest (in SapuraKencana) and serve the company as a board member,” he said.
Bursa Malaysia filings showed that Mokhzani’s unit Khasera Baru Sdn Bhd sold a block of 190.3 million shares in SapuraKencana on Feb 18 at a price of RM4.30 per share. This would have given Mokhzani’s total proceeds of close to RM820mil.
StarBiz had reported yesterday that this block was jointly sold by Mokhzani and the family of the late Chong Hin Loon, who was a founder of Kencana Petroleum.
But filings now show that the late Chong’s family had not participated in the sale. His family continue to hold around 111 million shares in SapuraKencana.
StarBiz had also reported that seven institutions made up largely of government-linked investment companies were the buyers of the block of shares.
The price of RM4.30 was at a mere discount of 2% to yesterday’s closing price of RM4.40 a share. SapuraKencana’s price dropped by 5 sen to close yesterday at RM4.35.
Mokhzani’s other major interest is now his 18.5% in oil and gas services firm Yinson Holdings Bhd. Via his investment vehicle Kencana Capital Sdn Bhd, Mokhzani is also a cornerstone investor in IHH Healthcare Bhd and Astro Malaysia Holdings Bhd.
