This article first appeared in Capital, The Edge Malaysia Weekly on June 12, 2017 - June 18, 2017
DIAPER and sanitary napkin manufacturer Wang-Zheng Bhd saw 80 million shares or a whopping 50.45% stake change hands off market for RM91.2 million. The shares crossed in a single direct business transaction on June 5 at RM1.14 apiece — a four-sen or 3.64% premium to the counter’s closing price of RM1.10 on June 2.
Filings with Bursa Malaysia show that Hengan International Group Co Ltd, the largest producer of sanitary napkins, baby diapers and tissue paper in China, has acquired a controlling 50.45% stake in Wang-Zheng and has made an offer to take over the remaining shares in the company. Established in 1985, Hengan has been listed on the Hong Kong stock exchange since 1998. It is a constituent of the Hang Seng Index, Hong Kong’s equity barometer.
Wang-Zheng manufactures and distributes processed paper and disposable products such as diapers and sanitary napkins. Its products are sold under its own brands, including Drypro, Dryplus, Carina and Carefeel.
Year to date, shares of Wang-Zheng have risen 80.5% to a historical high of RM1.39, giving the company a market capitalisation of RM220.4 million.
It is worth noting that Hengan intends to maintain the listing status of Wang-Zheng on the Main Market of Bursa.
Separately, ceramic tiles maker White Horse Bhd saw 27.53 million shares or a 25.1% stake change hands off market for RM57.43 million in two direct deals.
A single block of 7.67 million shares crossed in a direct deal on June 5 at RM2.05 apiece, 3% higher than the RM1.99 it was fetching on the open market.
Another block of 19.85 million shares was traded in a single direct deal on June 5 at RM2.10 apiece, 5.5% higher than the counter’s closing price on the open market. At press time, neither the buyer nor the seller had been disclosed.
According to filings with Bursa, White Horse non-independent non-executive director Liao Jung Chu had ceased to be a substantial shareholder of the company on May 29 after disposing of 29.57 million shares.
The counter has risen 1% to RM2.03 year to date, giving the company a market capitalisation of RM464.9 million.
Over at S P Setia Bhd, the property firm saw 105.5 million shares or a 14.3% stake cross off market for RM407.96 million.
The bulk of the shares — 64 million shares — crossed in a single direct trade last Tuesday at RM3.89 apiece, 2% below the RM3.97 they were fetching on the open market.
Earlier, on June 1, 40 million shares were transacted in a direct deal at RM3.83 apiece, representing a slight premium of 0.5% to the closing price of RM3.81 that day. This single block of shares was acquired by AmanahRaya Trustees Bhd-Amanah Saham Bumiputera, which raised its stake in the company to 28.02%.
Meanwhile, KUB Malaysia Bhd saw 125.46 million shares or a 7.9% stake cross off market for RM43.91 million on June 5.
Neither the buyer nor the seller was disclosed. KUB Malaysia has not made any announcement on substantial changes in shareholding since December 2008.
Sern Kou Resources Bhd saw five million shares or a 4.6% stake cross off market for RM5.5 million on June 5. The single block of shares was transacted in a direct deal at RM1.10 apiece, 10.5% below the RM1.23 it was fetching on the open market.
Neither the buyer nor the seller was disclosed. Sern Kou Resources has not made any announcement on substantial changes in shareholding since September 2010.
Sentoria Group Bhd also saw 25.09 million shares or a 4.3% stake cross off market for RM20.85 million on May 31 and June 5.
About 24.09 million shares were transacted at 83 sen apiece in a single direct deal on June 5, after a single block of one million shares changed hands at 85.5 sen apiece in a direct deal on May 31.
Save by subscribing to us for your print and/or digital copy.
P/S: The Edge is also available on Apple's AppStore and Androids' Google Play.