Falling shares hit Mustek plans to sell BEE equity

September 1, 2009

Mustek had shelved plans to sell equity to a black company following a drop in its shares to trade lower than the net asset value (NAV), the computer distributor said yesterday.

Last year Mustek said it would sell equity at a group level rather than at subsidiary level following its legal spat with Puno, which held 30 percent in Mustek's Brotek. Mustek won the court case and bought back the shares.

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