Zetrix founder Wong Thean Soon sheds 103.62mil Cuscapi shares, no longer substantial shareholder

KUALA LUMPUR: Zetrix AI Bhd's founder Wong Thean Soon is no longer a substantial shareholder of Cuscapi Bhd after disposing of about 103.62 million shares.

In a filing with Bursa Malaysia, Cuscapi said Wong disposed of about 99.12 million shares on Sept 11 while his private vehicle Asia Internet Holdings Sdn Bhd disposed of another 4.5 million shares.

The total shares equaled nearly an 11 per cent stake in Cuscapi.

Based on Cuscapi's closing price of five sen on Sept 11, the shares Wong disposed of totalled about RM5.18 million.

Investor Tan Boon Seng acquired about 103.62 million shares in Cuscapi on the same day Wong disposed of his stakes, representing a 10.6 per cent stake in the company.

Following the recent disposal, Wong currently holds about 23.25 million shares in the company or about a a 2.5 per cent stake.

Cuscapi's share price closed one sen or 20 per cent higher at six sen on Thursday, valuing the company at RM56.69 million.