KUALA LUMPUR: The Employees Provident Fund (EPF) has ceased to be a substantial shareholder of YTL Power International Bhd following the disposal of 14.9 million shares.
According to a filing with Bursa Malaysia Securities, the transaction was carried out on Dec 20, 2024 for an undisclosed amount.
Based on YTL Power's filing on Dec 18, EPF held a total of 412 million shares in the group, equivalent to a 5.019 per cent stake.
EPF emerged as a substantial shareholder in YTL Power in February 2018 after it acquired an additional 1.917 million shares on Feb 7, 2018, increasing its stake to 5.03 per cent.
The utilities company's share price has jumped 16 per cent since Malaysian Anti-Corruption Commission (MACC) cleared its subsidiary YTL Communications Sdn Bhd of any wrongdoing in the 1BestariNet project.
Year-to-date, YTL Power's share price has risen 66 per cent.
The stock was trading at RM4.27 earlier, giving it a market capitalisation worth RM35.3 billion.