Northern Solar Holdings Bhd executive director Chew Win Hoe and managing director Lew Shoong Kai have collectively disposed of 43.42 million shares in the renewable energy company for approximately RM42.55 million.
The company said the shares were sold through direct business transactions on Sept 23 and 24, 2026, at RM0.98 per share.
Chew disposed of 10 million shares, representing a 2.528% stake, on Sept 23, followed by another 11.71 million shares, or 2.960%, on Sept 24.
Lew undertook identical transactions over the same two days, selling a total of 21.71 million shares at RM0.98 apiece.
Each director disposed of approximately RM21.28 million worth of shares, equivalent to a 5.488% equity interest in Northern Solar.
The combined disposals represented 10.976% of the company’s issued shares.
However there was no disclosure on the reasons for the disposals or the directors’ remaining shareholdings following the transactions.
Incidentally, the company did issue a statement after reports of an RM800 million CRESS project but claimed that discussions were still ongoing.
Share price of the company surged 80% over the last 5 days from 0.71 to peak of 1.33 on Friday.
