Thursday 28 Mar 2024
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KUALA LUMPUR(Oct 23): Multi Sports Holding Ltd’s Chairman and Chief Executive Officer (CEO) Lin HuoZhi has been disposing his shares in the Chinese-based sport shoe sole maker, since early October.

Lin has hived off about 5% equity stake in Multi Sports. His stake shrunk to 40.66% or about 210.41 million shares today, from 45.066% or 233.22 million shares before he disposed 2.3 million shares on Sept 30.

According to the filing to Bursa Malaysia, Lin sold 7.86 million shares, of which 7.78 million were sold on Tuesday at 16.1 sen each.
 
Lin, a Chinese national, is the founder of the sport-shoe sole manufacturing company based in Jinjiang City, Fujian, in southern China. He holds the shares of Multi Sports through Power Wide Holdings Ltd, incorporated in British Virgin Island.

The share price of the company has been going downhill to close at 16.5 sen on Thursday, from 20.3 sen on Oct 1.

The market capitalisation of the company is RM85.39 million.

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