Friday 29 Mar 2024
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This article first appeared in Capital, The Edge Malaysia Weekly on November 6, 2017 - November 12, 2017

MMAG Holdings Bhd saw 57.34 million shares, or an 18.88% stake, change hands off market for RM15.48 million on Oct 31.  At the time of writing, there had not been any filings with Bursa Malaysia regarding the substantial shareholding change.

The shares crossed at 27 sen apiece in three blocks — 33.5 million shares, 17.73 million shares and 6.1 million shares. The price was substantially higher than MMAG’s adjusted closing share price of 12 sen that day. The stock closed at 22.5 sen the next day.

It is interesting to note that MMAG is in the process of undertaking a sizeable one-for-two rights ussie, as well as a two-for-one rights issue of irredeemable convertible preference shares.

It is worth noting that the entitlement date of both issues is Nov 3. MMAG lost 0.17 sen per share for the first quarter ended June 30 and had a market capitalisation of RM68.3 million.

Yong Tai Bhd saw 30.37 million shares traded off market during the period under review. The shares were worth RM45.35 million and made up a 6.96% stake in the company.

What is interesting about the trades is that 14 million shares crossed at RM1.38 apiece, a substantial discount to the stock’s closing price of RM1.60 that day. A day earlier, 2.37 million shares changed hands at RM1.50 apiece.

The rest of the shares were traded in 28 blocks of 500,000 shares each at RM1.61 apiece. At the time of writing, there were no filings with Bursa on the transactions.

According to shareholding records in its annual report, there is one shareholder with 14 million shares — a UOB Kay Hian nominee account. It is unclear who owns the shares.

Elsewhere, BIMB Holdings Bhd continued to see active off-market trading activity with 46.75 million shares, or a 2.85% stake, worth RM203.9 million changing hands.

The shares were transacted in six deals with prices ranging from RM4.36 to RM4.37. The largest transaction involved 11.45 million shares.

According to filings with Bursa, Lembaga Tabung Haji disposed of 16 million shares on Oct 27. BIMB’s share price rose to RM4.40 last Wednesday.

Perak Transit Bhd saw 30 million shares traded in a single off-market transaction on Oct 27 for RM5.4 million. The shares were sold at 18 sen apiece, a substantial discount to the counter’s closing share price of 32 sen on Oct 25.

Interestingly, IHH Healthcare Bhd saw 33.36 million shares change hands in a single direct trade last week for RM188.5 million, or RM5.65 a share. In total, IHH saw 60.6 million shares totalling RM342.4 million change hands during the week. The shares made up only 0.74% of the company’s share base.

SMRT Holdings Bhd saw 12 million shares, or a 3.32% stake, change hands for RM2.04 million in a single direct trade on Oct 27.

A few weeks earlier, SMRT triggered an usual market activity query after its share price hit a three-month high of 22 sen. The company responded by saying it was unaware of the reason for the trading activity.

Harn Len Corp Bhd saw 7.5 million shares traded at RM5.26 million during the week.

Hubline Bhd saw 23 million shares, or a 1.18% stake, worth RM3.68 million change hands during the same period.

DBE Gurney Resources Bhd saw 20.5 million shares, or a 1.29% stake, traded for RM518,000 during the week.

 

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