The selling of shares in a company can be influenced by a variety of factors. It could be due to the company’s financial performance, market conditions, or investor sentiment. However, without specific news or events related to Smart Asia Chemical Berhad, it’s hard to pinpoint the exact reason for the selling.

As for who the sellers are, they could be any shareholders of the company. When Smart Asia Chemical Berhad went public, they issued 93,500,000 new ordinary shares. These shares were distributed in the following manner:

18,492,600 new shares were made available for application by the Malaysian public.

12,100,000 new shares were available for application by their eligible directors and employees as well as persons who have contributed to the success of Smart Asia and its subsidiaries.

46,231,400 new shares were placed privately to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry of Malaysia.

16,676,000 new shares were placed privately to selected investors.

Therefore, the sellers could be any of these shareholders who decided to sell their shares for various reasons. It’s important to note that the stock market is dynamic and share prices can fluctuate due to a multitude of factors.

Cheers ! May the market forces be with you:):):)