Tycoon Lee Kim Yew trims stake in Country Heights

• This leaves Lee with a 26.207% direct stake (77.77 million shares) and 34.124% indirect stake (101.26 million shares) in Country Heights

KUALA LUMPUR (Dec 9): Tycoon Tan Sri Lee Kim Yew has trimmed his stake in Country Heights Holdings Bhd to 60.331%, from 60.604% previously.

Lee disposed of 810,811 shares in the property developer via off market transactions on Tuesday (Dec 6).

This leaves Lee with a 26.207% direct stake (77.77 million shares) and 34.124% indirect stake (101.26 million shares) in Country Heights, the group’s bourse filing showed.

The disposal was in accordance with a master share sale and purchase agreement with Equity First Holdings LLC announced on June 8, under which Lee sells shares held in Country Heights, and has the right to repurchase the shares at a pre-agreed price at the maturity date.