Ideal United Bintang sees 13.48% stake traded off-market

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KUALA LUMPUR (April 23): Ideal United Bintang International Bhd (IUBI) saw 24.8 million shares, representing a 13.48% stake in the company, cross in off-market direct business transactions yesterday.

The shares crossed at RM1.11 apiece in five separate transactions yesterday afternoon, a 3.48% discount to the group’s share price of RM1.15 at the time, bringing the transactions' total value to RM27.53 million.

The stock closed unchanged at RM1.17 today, giving IUBI a market value of RM215.31 million.

It was not immediately known who the parties involved in the transactions were.