Clement Hii buys another 20.55% in SEG International for RM112.98 mil
KUALA LUMPUR (April 30): SEG International Bhd’s major shareholder Tan Sri Clement Hii has bought a 20.55% stake for RM112.98 million in the company that mainly runs tertiary colleges, from private equity firm Navis Capital.
The acquisition price, equivalent to 45 sen per share, represents a 32% discount to its last price of 66 sen. Hii, alongside his son-in-law Datuk Dr Dennis Ling, now hold 53.09% in SEG International and he will be required to extend an offer to buy the remaining shares not already owned at the same price.