Activist investor Quarz Capital Asia has sold more than half its share holdings in Sunningdale Tech as the company nears privatisation by its chairman Koh Boon Hwee and Novo Tellus chairman Loke Wai San. 

The fund sold over 7.4 million shares in the company on Feb 23 at $1.64 per share, leaving it with just over 5.98 million shares. 

Before this, Quartz was a substantial shareholder of Sunningdale, owning at one point a high of about 15.95 million shares, or 8.284%, as at Jan 19. 

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