Aurora Mulia Sdn Bhd, a company linked to Malaysian billionaire Tan Sri Syed Mokhtar Al-Bukhary, has reportedly sold its 31.9% stake in Media Prima Bhd, marking the end of its role as a major shareholder.
Aurora Mulia has held 353.82 million shares in the media group since 2019 when it acquired a stake from UMNO through Gabungan Kesturi Sdn Bhd and Altima Inc.
The sale was revealed in a Media Prima filing, although details about the buyer remain unknown.
Media Prima shares are estimated to be worth RM164.52 million, based on the company's closing share price of 46.5 sen on Monday.
Leasing Corp Sdn Bhd emerged as the new largest holder in Media Prima, holding 5.53% of the shares after several months.
The company is owned by Sisma Vest Sdn Bhd, chaired by Datin Mariam Prudence Yusof.
Other major shareholders include JAG Capital, owned by Minister Datuk Seri Johari Abdul Ghani, with a 25% stake, and Morgan Stanley & Co, which holds 10.18%.
For the quarter ending June 30, 2024, Media Prima recorded a net profit of RM33.21 million, due to savings made by the company through the cancellation of advertising agreements, despite a 17.1% decline in revenue.
