KUALA LUMPUR (Sept 26): A block of 5.8 million Classic Scenic Bhd shares were traded off market just seven minutes before the mid-day break today, Bloomberg data showed.
The shares account for 4.81% of the wooden picture frame maker’s equity.
The shares changed hands at RM1.09 apiece or for a total of RM6.32 million. This is 11 sen or 9.17% lower than yesterday’s closing price of RM1.20 on the open market.
At 3:14 pm today, Classic Scenic ceded one sen or 0.83% to settle at RM1.19. Its trade volume was a mere 11,000 units.
The identity of the buyer and seller in the off market transaction is not immediately known.
However, Classic Scenic’s latest annual report for the financial year ended Dec 31, 2013, showed its biggest shareholder Lim Ket Leng Holding Sdn Bhd which is controlled by Executive Chairman Lim Chee Keong, held a 62.82% stake in the company as at April 23 this year.
No other Classic Scenic shareholder held an amount of shares bigger than or equal to today’s block of shares traded off market.
On Tuesday, Lim Ket Leng also sold 5.15 million Classic Scenic shares off market, reducing its stake to 58.55%.