KUALA LUMPUR: The Retirement Fund Inc. (KWAP) net bought 27.4 million shares in the selloff in CTOS Digital Bhd's shares yesterday, giving it a substantial 5.807 per cent stake in the company.

In filings with Bursa Malaysia Securities Bhd today, CTOS Digital said KWAP bought 28.81 million shares and later sold 1.37 million shares yesterday, raising its 1.53 per cent interest in the company to 5.807 per cent.

CTOS Digital saw a significant drop in its value on Tuesday, losing 13 per cent of its share price following a High Court ruling that said it lacked the authority to create credit scores.

Today, CTOS Digital's share price gained some of lost groundreassure investors that it was business as usual with no injunction to stop it from continuing its credit scoring business.

As at the end of trading CTOS Digital's share price rose 2.4 per cent or three sen to RM1.28, giving it a market capitalisation of RM2.956 billion.

https://www.nst.com.my/business/corporate/2024/03/1025376/kwap-emerges-ctos-digitals-substantial-shareholder-after-may-12