Gunung Capital sees 5% stake traded off market

Gunung Capital sees 5% stake traded off market
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KUALA LUMPUR (Jan 10): Gunung Capital Bhd, which is involved in chartering out land-based transportation assets, saw 5% of its stake traded off market today.

According to Bloomberg, 10.75 million shares worth RM5.62 million were transacted in eight tranches at between 50 sen and 55 sen apiece, representing a 5.2% to 13.8% discount to the closing price today of 58 sen.

Parties of the transactions were not known at press time.

Filings with Bursa Malaysia revealed part of the shares were disposed of by the group’s managing director and chief executive officer Datuk Syed Abu Hussin Hafiz Syed Abdul Fasal.

Syed Abu Hussin Hafiz, who is the group’s largest shareholder, trimmed his stake to 14.47% today, after disposing of 4.85 million shares via off market.

He had disposed of 2.62 million shares yesterday.

Gunung Capital shares closed 3.5 sen or 6.48% higher at 58 sen today, valuing it at RM135.8 million.