For the Merdeka Day-shortened week from Aug 31 to Sept 6, 305.863 million shares changed hands off market in blocks of at least 400,000 shares, worth a total of RM453.72 million.
Among the notable transactions were the 11.62 million Atta Global Group Bhd shares, or a 17.3% stake, that crossed off market at an average price of 33.5 sen each.
The transactions took place in four separate direct transactions on Sept 5. Based on filings with Bursa Malaysia, A1 Capital Sdn Bhd disposed of its entire stake, which is equivalent to 4.918 million shares. A1 Capital is controlled by Kwan Seong Kee, who has a 97.5% stake, and Lim Seow Chin, who has 2.5%.
Lim was listed as the largest holder of the company’s warrants as at June 30, with a cumulative 21.99% of Warrant B. He was also deemed to hold 16.355% of Warrant C as at that date. Lim also holds 3.77%, or 6.788 million units, of the company’s irredeemable convertible unsecured loan stocks.
A1 Capital director Lim Kean Wah held a 3.85% stake in Atta Gobal, according to the annual report.
At Grand-Flo Bhd, 22.36 million shares, or a 4.67% stake, changed hands off market in three separate blocks on Sept 2, for a total of RM4.28 million.
The shares were transacted at between 19 sen and 20.5 sen apiece — a slight discount to Grand-Flo’s share price, which has closed at 20.5 to 21 sen apiece in the past few weeks, down from a high of 32 sen last year.
It is noteworthy that the company has been actively buying back small blocks of 10,000 to 30,000 shares.
Meanwhile, Orion IXL Bhd saw a 4.155% of its shares traded off market in four separate direct transactions on Sept 2 at 20 sen apiece, for a total value of RM1.11 million.
At press time, no filings had been made to Bursa Malaysia regarding these transactions. It is interesting to note that Datuk Mohamed Nizam Abdul Razak, brother of the prime minister, was one of the company’s substantial shareholders.
Nizam, who held a 5.33% stake, ceased to be a substantial shareholder after disposing of 1.5 million shares on June 1.
Orion earlier last month also saw a number of changes in the composition of its board. Lee Yian Ping and Abu Bakar Fikri Sulaiman resigned on Aug 3, and Rahimi Ramli and Tang Luan Kang were appointed as directors on the same day. The company also issued a private placement of 12.1 million shares that was completed on July 26.
Meanwhile, Mexter Technology Bhd saw a 3.01% stake traded off market in four separate blocks on Sept 5 and 6, at between 22 and 24 sen. Mexter’s share price closed at 26 sen last Wednesday.
Sanichi Technology Bhd saw 16.6 million shares, or a 2.05% stake, change hands in 39 blocks on Sept 6. Datuk Seri Pang Chow Huat announced to Bursa Malaysia on Sept 7 that he ceased to be a substantial shareholder on July 29, following a rights issue.
At EKA Noodles Bhd, a 1.69% stake, or 5.26 million shares, changed hands off market, for a total of RM184,000.
M3 Technologies Asia Bhd saw 4.79 million shares transacted off market, worth RM335,000. That translates into a 2.465% stake.
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