Insas Berhad has raised approximately RM318.1 million through the disposal of 150 million shares in Inari Amertron Berhad, a move expected to generate a net gain of about RM165 million for the group.
The group said the disposal was undertaken by its wholly owned subsidiaries — Insas Plaza Sdn Bhd, Insas Technology Berhad and Media Lang Limited — on July 2 through direct business transactions.
The transactions were executed between M&A Securities Sdn Bhd, acting for the Insas Group, and two licensed stockbroking firms.
The latest disposal forms part of a series of transactions involving Inari shares over the past 12 months. During the period, Insas disposed of 293.31 million Inari shares and acquired 3.32 million shares, representing aggregate transactions worth approximately RM611.3 million.
Following the latest sale, Insas retains 218.05 million shares in Inari, equivalent to a 5.70% stake, allowing it to remain a substantial shareholder in the semiconductor outsourcing specialist.
Insas said the disposal is expected to generate a gross gain of RM173.4 million, which will translate into a net gain of approximately RM165 million after accounting for taxes and transaction-related costs.
The carrying value of the disposed shares stood at RM144.7 million, comprising the original investment cost of about RM54 million and the group’s share of Inari’s post-acquisition profits and reserves accumulated since the company’s initial public offering in 2011.
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