Eduspec sees 3.7% traded off-market

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KUALA LUMPUR (Oct 12): Eduspec Holdings Bhd saw 34.5 million of its shares, representing a 3.7% stake, traded off-market today.

According to Bloomberg data, a total of two blocks of shares comprising 17 million and 17.5 million each were crossed at 15 sen per share.

This is one sen higher than the counter’s closing price of 14 sen, although it matched the group’s intraday high.

It is not immediately known who the buyers and sellers of the shares are.

The education provider’s largest shareholder is chief executive officer Lim Een Hong, who holds a 17.71% stake. This includes an indirect interest via Victory Solutions (M) Sdn Bhd, which has a 9.19% stake.

In September, Lim stepped down as chairman of the group and was replaced by independent director Datuk Wee Hoe Soon @ Gooi Hoe Soon.

Separately, the group had in August proposed a private placement of 131.55 million new shares representing up to 10% of its total issued shares, at 15 sen apiece.

The placement is expected to raise up to RM18.42 million for its working capital requirements and the migration of its current information technology classes, as well as to localise the language curriculum for its Robotics and Computer Science for Schools Programme.