not vested
Aberdeen buys 5% stake in Star Media Group
PETALING JAYA: Aberdeen Asset Management Plc has emerged as a substantial shareholder in Star Media Group Bhd after acquiring some 36.9 million shares representing a 5% stake.
According to a Bursa Malaysia filing, the acquisition was made on Feb 3 via a direct business transaction. The transaction was an investment position taken in connection with Aberdeen’s ordinary business in fund management, the filing said.
Aberdeen is a well-known value investor with a concentrated portfolio in blue-chip stocks. Among its holdings are British American Tobacco (M) Bhd and Panasonic Manufacturing Malaysia Bhd.
The group utilises a bottom-up investment style, which emphasises on company fundamentals. Its fund managers tend to run a portfolio with low turnover and positions are held over the long term.
The group has US$374bil in assets under management globally, including some US$2.67bil invested in Bursa Malaysia stocks as of Dec 31, 2016.
Between Feb 3, when the stake was acquired, and Feb 7, Star Media Group’s share price rose by 4.3%.
It closed at RM2.44 per share yesterday.
Source: The Star
http://www.thestar.com.my/business/busi ... AuciuTM.99