9.7% APFT shares traded off-market

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KUALA LUMPUR (March 5): APFT Bhd, which operates flight education and training academy, saw 129.78 million shares, representing a 9.7% stake, traded off-market today.

According to Bloomberg data, the shares were sold in two blocks, the first of 86 million shares and the second of 43.7 million shares, for RM648,900 or 0.5 sen apiece.

This is a 75% discount over the closing price of 2 sen today.

At the time of writing, it is unclear as to who were involved in the transaction.

Goh Boon Soo held 7.74% shares of the company, while Seik Thye Kong has a 6.41% stake as at Aug 28, 2018.

On Jan 19, 2018, APFT fell into Practice Note 17 status after its shareholders' equity fell below the 50% threshold.

At 2 sen per share, APFT has a market capitalisation of RM26.85 million.