KUALA LUMPUR (July 11): Media Prima Bhd saw 55 million shares crossed off-market today, which represents 4.96% of the company's total 1.11 billion shares.
The block of shares was transacted at 60 sen per share, which is the same price that tycoon Tan Sri Syed Mokhtar Al-Bukhary paid a week ago for a 11.09% stake bought from Gabungan Kesturi Sdn Bhd.
According to Bloomberg data tracking trade of 300,000 shares or more, the shares were transacted in one block worth a total of RM33 million. This is the second substantial block that changed hands seen this month.
The transaction via a direct business transaction was carried out at 60 sen a share, a premium of 26.32%. It is not immediately known who the parties involved in the transaction are.
Utusan Online last week, citing sources, said Syed Mokhtar was in the final stages of acquiring Umno’s remaining 7.96% in Media Prima, held under Altima Inc, via Aurora Mulia. Should the tycoon acquire the block of shares, he will emerge as the largest shareholder of Media Prima with a 19.5% stake.
Over the past 12 months, the stock has been trading at between 32.5 sen and 60 sen. Year-to-date, Media Prima’s shares have grown 38% from 34.5 sen.
To recap, last Thursday, private company Aurora Mulia Sdn Bhd, whose board members include Syed Mokhtar’s son Syed Danial Syed Mokhtar Shah, emerged as the buyer of the 11.09% stake in Media Prima from Umno’s Gabungan Kesturi, according to filing with Bursa Malaysia.
The share purchase made the tycoon, who already owns a 14.76% stake in Utusan Melayu (Malaysia) Bhd and wholly owns The Malaysian Reserve, the third-largest shareholder of Media Prima.
Currently, Mitsubishi UFJ is the single largest shareholder of Media Prima with 42.29 million shares or a 12.84% stake. It is not known if Mitsubishi UFJ is the ultimate shareholder or is holding the shares on behalf of a client.
The Edge Weekly, in its latest issue, reported that Syed Mokhtar owns this 12.84% stake in Media Prima that is held by Mitsubishi UFJ, noting that two sources affirmed the fact.
Other substantial shareholders of Media Prima include the Employees Provident Fund with 11.92%, as well as London-based investment management firm Edgbaston Investment Partners LLP with 5.38% — the fifth-largest single shareholder of the group.