5.55% stake in YNH Property traded off-market

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KUALA LUMPUR (Aug 14): Some 29.14 million shares representing about 5.55% stake in YNH Property Bhd were traded off market today.

Bloomberg data showed that the shares were traded in three separate tranches of 17.89 million shares, 2.5 million shares and 8.76 million shares.

All three tranches were traded at RM1.19 per share, or a discount of 16 sen (11.85%) to its last closing price of RM1.35.

Based on YNH bourse filings today, the group’s chairman Datuk Yu Kuan Chon was the seller of the first two tranches, which represented some 3.88% in the company.

Separately, Yu also sold 3.39 million shares or 0.64% stake in YNH at RM1.34 per share, presumably in the open market.

After the dealings, YNH said Yu’s holdings in the property developer now stands at 21.77% direct and 6.59% indirect stake.

At press time, it could not be determined who was involved in the dealings of the third off-market tranche of 8.76 million shares.

On the open market, the counter saw 4.75 million shares traded – 6.5 times its 200-day average – for a market capitalisation of RM709.2 million.