FSBM sees 4.96% stake traded off-market

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KUALA LUMPUR (Aug 16): Loss-making FSBM Holdings Bhd saw 7.01 million shares or a 4.96% stake traded off-market today, in a direct business transaction.

The shares were crossed for a total of RM1.75 million or 25 sen apiece, representing a 5 sen or 25% premium to FSBM’s closing price of 20 sen today.

At today’s closing price, the information technology solutions provider’s market capitalisation stands at RM28.97 million. 

The parties involved in the transaction were not known at time of writing. 

FSBM’s largest direct shareholder is Chew Weng Yew, who holds a 22.55% stake. However, its managing director Tan Hock San holds an effective 33.99% stake via direct and indirect interests. 

FSBM last reported a narrower net loss of RM295,000 for its third financial quarter ended March 31, 2018 (3QFY18), versus a net loss of RM838,000 in the previous corresponding period. Revenue rose to RM418,000 from RM92,000 in 3QFY17.