KUALA LUMPUR (Nov 6): Green Packet Bhd saw 131.66 million shares, which represents 14.23% of the company's total 925.4 million shares, cross off-market today.

According to Bloomberg data, the shares were transacted in five blocks for a total of RM95.52 million.

The transactions were carried out at between 72.5 sen (discount of 0.68%) and 75 sen (premium of 2.74%) a share.

It is not immediately known as to whom the parties involved in the transactions are.

The transactions came after some 35 million or 3.79% of Green Packet shares crossed off-market on Monday (Nov 4), at 75 sen a piece.

On Friday (Nov 1), Green Packet announced it had entered into a Memorandum of Understanding with China Mobile Group Device Co Ltd to mutually explore opportunities in promoting and distributing each other’s products and services.

The Chinese firm is a subsidiary of state-owned China Mobile Communications Group Co Ltd, whose other subsidiaries include China’s largest telecommunications company, China Mobile Ltd.

It should also be noted that on Sept 27, Singapore-based private equity firm Kendall Court's wholly-owned Summit Synergy Ltd emerged as a substantial shareholder of Green Packet with a 7.19% equity stake, after having acquired 65 million shares at 70 sen per share.

Prior to that, The Edge Financial Daily wrote on Sept 19, citing sources familiar with the matter, that a foreign institutional investor from China is expected to emerge as a substantial shareholder of Green Packet, after more than 10% of the company's shares crossed off-market in the week before that.

Green Packet shares closed half a sen higher or 0.69% at 73 sen today, valuing the company at RM675.54 million. Some 2.19 million shares were traded. Year-to-date, the counter has more than doubled from when it was trading at 31 sen.