EPF snaps up 24mil SD Guthrie shares in October
KUALA LUMPUR: The Employees Provident Fund (EPF) went on a buying spree in SD Guthrie Bhd throughout October, snapping up 24.11 million shares while making just one disposal during the month.
KUALA LUMPUR: Throughout October, the Employees Provident Fund (EPF) purchased 24.11 million shares in SD Guthrie Bhd, while making only one sale during the month. EPF made 47 acquisitions and had a single disposal of 800,400 shares on October 1, resulting in a net acquisition of 23.31 million shares. This increased EPF's stake in SD Guthrie, the world's largest palm oil producer by acreage, to 17.56 per cent.
EPF's combined direct and indirect holdings stood at 1.21 billion shares as of October 30. The retirement fund's spending on these purchases was estimated to be between RM136 million and RM148 million, based on SD Guthrie's October trading range of RM5.64 to RM6.12. SD Guthrie's shares were trading at RM6.01 at the time of writing, up 1.35 per cent and valued at RM41.56 billion.
The stock has gained 6.37 per cent year-to-date, but remains below its August peak of RM6.91. EPF's increased stake makes it SD Guthrie's second-largest shareholder, behind Permodalan Nasional Bhd, which holds a 49.12 per cent stake.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
