KUALA LUMPUR (Sept 7): G3 Global Bhd, or formerly known as Yen Global Bhd saw 123.75 million shares cross off-market today via direct transactions. This represents 30.02% of the company's total 412.2 million shares.
According to Bloomberg data tracking trade of 300,000 shares or more, the shares were transacted in five blocks, worth a total of RM38.36 million.
The smallest block was 17.5 million shares (4.25%), while the largest block was 20 million shares (4.85%).
The transactions were carried out at 31 sen a share, which is at a 57.53% discount to the counter’s closing price of 73 sen. It is not immediately known who the parties involved in the transaction are.
Nonetheless, it is interesting to note that the number of shares which were traded off-market today matches the total stake held by its major shareholder Taiwan’s Gemtek Investment Co Ltd.
Notably, other major shareholders are Green Packet Bhd’s total shareholding is 32.02% or 132 million shares, while Global Man Capital Sdn Bhd and Grandstead Sdn Bhd hold 12.92% and 4.99% respectively.
Shares of G3 Global closed up 3.5 sen or 5.04% at 73 sen today, valuing the company at RM300.91 million.