Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 9): Hubline Bhd saw 57 million shares, equivalent to a 4.22% stake in the shipping group, traded off-market today at 11 sen per share.
 
The price represents a 2.5 sen or 18.52% discount to its closing price of 13.5 sen.
 
Hubline, the day’s most active stock with 158.1 million shares traded, had climbed 2 sen or 17.39% to a 5-month high by the closing bell.
 
Separately, Hubline announced its largest shareholder, BNDM Inc Holdings Sdn Bhd, has increased its stake in the group to 12.95% via a total acquisition of 7 million shares last week.
 
It had acquired a block of 3 million shares on Oct 5 and a block of 4 million shares the next day, both at 11.5 sen per share.
 
BNDM is the private vehicle of Hubline chairman Datuk Richard Wee Liang Huat @ Richard Wee Liang Chiat.
 
Pau Chiong Ching, previously the group’s largest shareholder, had ceased to be a substantial shareholder on Oct 5, after disposing of 10 million shares.
 
Pau continues to hold a 4.52% stake or 61.8 million shares in the group. 

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