Denko sees 5% stake traded off-market

Denko sees 5% stake traded off-market
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KUALA LUMPUR (Feb 20): Denko Industrial Corp Bhd saw a total of 5.006 million shares, representing an equity stake of 4.79%, traded off-market today for total value of RM3 million.

According to Bloomberg data, the block of shares were traded at 60 sen per share, representing a 15% discount to its closing price of 71 sen.

It is not immediately known as to who the parties involved in the transactions were.

Earlier this month, Denko received a conditional voluntary takeover offer from Oregon Technology Sdn Bhd at 55 sen per share.

On Feb 17, Denko chief executive officer Tan Chen Wei, Green Power Resources Ltd and Datuk Ong Choo Meng had ceased to be shareholders of the company, following the sale of their respective stakes.

Meanwhile, Oregon Technology emerged as a substantial shareholder, holding a total of 49.50 million shares, representing a 47.39% stake in Denko as at Feb 20.