JcbNext reduces stake in Taiwan-listed firm
The company, a provider of interactive online marketing platforms and technologies, said in a Bursa Malaysia filing that the disposal will decrease its shareholding in 104 Corp from 4.47 million shares to 3.82 million shares, representing 11.50% of the issued share capital of 104 Corp of 33.19 million shares.
'The disposals are in line with the company's strategy of diversifying its investment portfolio and reducing concentration risk.
'Furthermore, the company will be able to utilise the disposal consideration to invest in other opportunities such as other listed equity securities or other private investments, that meet the company's investment objectives, allowing for diversification of its investment portfolio.'
104 Corp is principally engaged in information technology, general advertising services, employment services and human resource consultancy.
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