KUALA LUMPUR (Oct 31): Yong Tai Bhd saw some 16.37 million shares, representing a 3.75% stake in the company, traded off-market today.

Bloomberg data showed the shares were traded in three blocks at prices between RM1.375 and RM1.50, or RM22.81 million in total. However, the buyer or buyers of the shares were not revealed.

The biggest block amounting to 14 million shares traded at RM1.375 apiece or RM19.25 million in total, a 14.6% discount to the counter's closing price of RM1.61 on the open market today.

Two other blocks were sold at RM1.50, a 6.8% discount to the latest traded price, for a sum of RM3.66 million.

Yong Tai ventured outwards from clothing segment into property development in 2014, and has since moved to include tourism business into its portfolio as well.

Having sold off its garment business recently, Yong Tai is expecting its tourism business segment to contribute up to 40% of its revenue starting from its financial year ending June 30, 2019 (FY19), with the property development business segment taking up the rest.

In May, Hong Kong-listed Co-Prosperity Holdings Ltd acquired a 24.59% stake in Yong Tai from Impression Culture Asia Ltd via subsidiary Full Winning Developments Ltd (FWD). Later in August, FWD raised its holding to 31.34% following a private placement.

Yong Tai saw 1.15 million shares traded today, with a market capitalisation of RM703.01 million.