Off-Market Trades: DBE Gurney Resources Bhd, BIMB Holdings Bhd, Yinson Holdings Bhd, Sapura Energy Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on November 20, 2017 - November 26, 2017.
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DBE Gurney Resources Bhd saw a 4.31% stake change hands for RM1.8 million on Nov 10 and 13. The 76.9 million shares were done in direct deals at 2.3 sen and 2.4 sen apiece, a discount to the 3 sen to 3.5 sen the stock fetched on the open market. There had not been any filings on significant shareholding changes at the time of writing. However, it is worth noting that the company has seen the listing of new shares from the conversion of redeemable convertible notes. On Nov 10, for instance, 70.4 million shares were issued at 2.13 sen apiece.

DBE shares closed at 3 sen last Wednesday, down 1.5 sen or 33.3% year to date. In September, DBE said it was looking at selling three yakitori or grilled skewers poultry products sourced from Japan to generate a potential RM10 million in sales in the next financial year, having signed a memorandum of understanding with GDJ Co Ltd.

BIMB Holdings Bhd also saw sizeable off-market trades, with 56.35 million shares or 3.44% equity interest changing hands for just over RM248 million between Nov 9 and 13. Most of the shares changed hands at RM4.40 to RM4.41 on Nov 9 and 10, at the top end of the range of open market prices on Nov 9 and above the RM4.36 to RM4.39 seen on Nov 10.

Filings with Bursa Malaysia show Lembaga Tabung Haji bought 27.2 million shares on Nov 9 but sold 27.15 million shares the next day (Nov 10), putting holdings at 51.47%. Amanahraya Trustees Bhd — Amanah Saham Bumiputera bought 142,000 shares on Nov 9 but sold two million shares on Nov 13, paring its holdings to 5.07%. The Employees Provident Fund (EPF) bought 106,600 shares on Nov 9, raising its holdings to 12.58%.

At Yinson Holdings Bhd, 56.1 million shares or a 5.16% stake changed hands for a total of RM220.78 million on Nov 10, 13 and 14. The shares changed hands in a mix of direct and crossed trades at RM3.90 to RM3.97 apiece, averaging at RM3.93.

Most of the shares changed hands on Nov 10 — 24 million shares or 2.21% equity interest at RM3.90 in three direct deals; 6.1 million shares at RM3.95; and 10 million shares at RM3.97 apiece. These were at a discount or the lower end of the RM3.97 to RM4 that Yinson shares fetched on the open market on that day.

Filings show that on Nov 10, executive chairman and major shareholder Lim Han Weng sold 13 million shares or a 1.2% stake for RM50.7 million and Liannex Corp (S) Pte Ltd sold 21 million shares or 1.93% equity interest for RM82.6 million. Another director, Datuk Wee Hoe Soon @ Gooi Hoe Soon, sold 6.13 million shares for RM24.17 million on the same day. The EPF bought just over 10 million shares or 0.92% at undisclosed prices on Nov 10, raising its holdings to 11.04%.

The remaining 16 million Yinson shares done off market on Nov 13 and 14 at RM3.94 to RM3.97 was largely within the range the stock fetched on the open market.

Filings show that AIA Bhd sold 3.07 million shares on Nov 14, paring its holdings to 6.4%. Kumpulan Wang Persaraan (Diperbadankan) and its fund managers bought 10 million shares on Nov 13 and 4.85 million shares on Nov 14, raising its holdings to 11.8%. Closing at RM3.94 last Wednesday, Yinson shares are up 36.3% year to date.

On Nov 9 and 10, Sapura Energy Bhd saw a 1.54% stake or 92.5 million shares change hands in a mix of direct and crossed trades off market for RM131.49 million. The bulk was done on Nov 9, when 88.5 million shares changed hands for RM125.67 million, or RM1.42 apiece, in three direct deals, below the RM1.46 to RM1.48 they fetched on the open market.

Filings show the EPF bought 40.59 million shares on Nov 9 and another 5.43 million shares on Nov 10, raising its holdings to 11.32%. Kumpulan Wang Persaraan (Diperbadankan) bought 5.16 million shares on Nov 9 and 10, raising its holdings to 6.51%.