This article first appeared in Capital, The Edge Malaysia Weekly on September 18, 2017 - September 24, 2017
TELECOMMUNICATION system and software solution provider Silver Ridge Holdings Bhd saw 5.1 million shares or a 4.21% stake traded in four blocks at 19 sen apiece, or a total of RM969,000, on Sept 7.
Bloomberg data shows that the transactions were done at a 9.52% discount to the closing price of 21 sen that day. On Sept 13, the counter’s price fell to 18.5 sen, giving the company a market capitalisation of RM22.39 million. Year to date, Silver Ridge’s share price has gained 42.31% from 13 sen on Jan 3.
At press time, the company had not made any public disclosure of the parties involved in the deals.
Over at K-Star Sports Ltd, the sports footwear manufacturer saw 10 million shares or a 3.41% stake change hands in a direct deal at 15 sen apiece, or a total of RM1.5 million, on Sept 12.
The transacted price represents a 36.36% premium to the counter’s closing price of 11 sen that day.
The next day, the counter ended two sen or 18.18% lower at nine sen, giving it a market capitalisation of RM26.37 million.
At the time of writing, K-Star had yet to disclose changes in shareholdings since June 2.
It is worth noting that the company has been incurring losses since its financial year ended Dec 31, 2012.
Islamic financial services provider BIMB Holdings Bhd saw 30.6 million shares or a 1.87% stake traded in direct deals for RM133.24 million on Sept 12.
According to Bloomberg’s data, the shares were transacted in four blocks at between RM4.35 and RM4.36 per share — a 1.83% discount to the counter’s closing price of RM4.44 that day.
YTD, BIMB’s share price has risen 5.21% from RM4.22 on Dec 30 last year. At the current price, the banking group is worth RM7.27 billion.
BIMB announced on Sept 14 that the buyer was Lembaga Tabung Haji, whose stake in the group rose to 53.12% or 870.04 million shares with the purchase. However, the filing with Bursa Malaysia did not mention who the seller was.
Lembaga Tabung Haji is the single largest shareholder in BIMB.
In an earlier filing, BIMB said Permodalan Nasional Bhd sold 10 million shares or a 0.61% stake on Sept 8, leaving it with 5.72% equity interest in the banking group. The filing did not state the buyer.
Nevertheless, in a separate filing, BIMB announced that AmanahRaya Trustees Bhd had acquired 10.03 million shares, raising its stake in the group to 5.72%. Both filings did not disclose the transaction prices.
Dagang NeXchange Bhd (DNeX) saw 30 million shares or a 1.71% stake traded in four direct deals at 45 sen apiece, or a total of RM13.5 million, on Sept 12.
The transacted price represents a 11.77% discount to the counter’s closing price of 51 sen that day.
DNeX’s share price fell two sen to 49 sen the next day, giving the company a market capitalisation of RM859.04 million. YTD, the counter has gained 88.46% from 26 sen on Dec 30 last year.
At the time of writing, DNeX had yet to announce the parties involved in the transactions.
Meanwhile, Apex Equity Holdings Bhd saw 2.01 million shares or a 0.99% stake change hands in a direct deal for RM4.01 million on Sept 8.
The transaction was done at RM2 per share — a 10.5% premium to the counter’s closing price of RM1.81 that day.
Apex Equity settled at RM1.80 on Sept 13, up two sen or 1.12%, giving it a market capitalisation of RM364.76 million.
As at press time, it was unclear who the parties involved in the deal were.
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