4.23% TechnoDex shares traded off-market

-A +A

KUALA LUMPUR (Jan 17): Some 25 million shares, representing a 4.23% stake in ICT firm TechnoDex Bhd were traded off-market today.

Bloomberg data shows that the shares were sold at 15 sen apiece for RM3.75 million, representing a premium of 3.5 sen or 30.43% over the stock’s closing price of 11.5 sen.

At the time of writing, it is unclear who were involved in the transactions.

Shares of TechnoDex have been actively traded off-market since Tuesday.

Including today, 35.97 million TechnoDex shares representing a 6.08% stake have been traded off-market this week.

The shares were sold in 15 tranches which ranged between 200,000 and 6.5 million shares, and were sold at prices between 11.5 sen and 15 sen for a total consideration of RM8.28 million.

As at Aug 1, 2018, TechnoDex’s largest shareholder was Surfstek Resources (M) Sdn Bhd with a 12.38% stake, followed by ACE Credit (M) Sdn Bhd with 10.62%, director Tan Boon Wooi with 6.08% and Kerk Han Meng with 5.84%.

TechnoDex is involved in the provision of ICT services including application services, IT hardware trading and services, as well as manpower outsourcing and recruitments.

As at July 31, 2018, TechnoDex had equity of RM40.16 million against total liabilities of RM7.02 million.

In its first quarter ended July 31, 2018, TechnoDex booked a net loss of RM780,000 against a net profit of RM78,000 in the previous corresponding quarter, as revenue declined 14.9% to RM12.38 million from RM14.55 million.

At today’s closing price of 11.5 sen, the group’s market capitalisation stands at RM67.9 million.