KUALA LUMPUR (March 25): Meridian Bhd saw the emergence of Datuk Seri Lee Koon Weng as a substantial shareholder, after purchasing 7.72 million shares in the property developer via a direct business transaction and the open market.

In a bourse filing yesterday, Meridian said post-acquisition, Lee now holds 31.68 million shares or a 5.47% stake in the company.

Meridian shares closed up half a sen or 10% at 5.5 sen yesterday, valuing it at RM31.88 million.

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