Lee Hock Seng loses substantial shareholder status at Eonmetall
Bloomberg data put his remaining stake at an estimated 4.21%, down from 5.57%, after an open-market disposal.
Datuk Seri Lee Hock Seng has sold 6.09 million shares in Eonmetall Group Bhd, leaving him below the 5% threshold for substantial shareholder status. The steel manufacturer disclosed the change on Oct 19.
Eonmetall said in a filing with the bourse that Lee made the open-market disposal on Oct 15. Using the closing share price of 44 sen, the transaction's estimated value was RM2.68 million. Bloomberg data estimated his stake following the sale at 4.21%, compared with 5.57% previously.
Lee had been Eonmetall's second-largest shareholder. He became a substantial shareholder on Oct 16, 2024, when he bought 25 million shares. The company's founder, executive director Datuk Goh Cheng Huat, remains its largest shareholder.
Eonmetall recorded revenue of RM29.9 million and a net loss of RM4.56 million for the second quarter ended June 30, 2026 (2QFY2026). The group said economic uncertainties and geopolitical tensions had made operating conditions challenging, and it expected operating costs to rise further.
At the Oct 19 market close, Eonmetall shares were unchanged at 44 sen, valuing the group at RM197.4 million.
