A running-scared Mokhzani exits Sapura Energy

(The Sun Daily) – Tan Sri Mokhzani Mahathir has sold 384.97 million shares in Sapura Energy Bhd, marking his exit from the oil and gas firm, some five years after the merger of Kencana Petroleum Bhd and Sapuracrest Petroleum Bhd.

A filing with Bursa Malaysia showed that the ordinary shares of RM1 each, which were held by Khasera Baru Ltd, were sold on Tuesday.

Mokhzani has been progressively paring down his stake in the group over the years.

In 2014, he sold 190.3 million shares in Sapura Energy, which was then known as SapuraKencana Petroleum Bhd.

The company’s share price fell 1.35% or 2 sen to close at RM1.46 today with a total of 9.22 million shares traded, giving it a market capitalisation of RM8.75 billion.