Notable filings
BETWEEN Nov 7 and 10, notable shareholding changes in companies listed on Bursa Malaysia included that at Century Bond Bhd, which is being privatised by a unit of Kumpulan Perangsang Selangor Bhd — the listed investment vehicle of the Selangor government.
According to filings with Bursa, Perangsang Packaging Sdn Bhd raised its stake to 80.18% after buying 85.73 million shares on Nov 8 for RM150.03 million. The acquisition triggered a mandatory general offer for the remaining Century Bond shares it does not own at RM1.75 apiece. Perangsang Packaging does not intend to keep Century Bond listed. As at Nov 11, Perangsang Packaging’s stake in Century Bond was 82.92%, separate filings show. Century Bond closed at RM1.76 last Wednesday.
Over at CAM Resources Bhd, managing director Tan Hong Cheng pared his stake to 12.5% after selling 14 million shares via a direct deal on
Nov 7. Stock market data shows that 14 million shares were traded off market at 28 sen apiece that day — 9.7% below the 31 sen they fetched on the open market.
The buyer was Goh Yok Tek, who surfaced as a substantial shareholder in CAM Resources with an 8.4% stake, up from his previous position of roughly 1% as at March 31. He could have paid RM3.92 million for the stake.
Metronic Global Bhd exited ACE Market-listed NetX Holdings Bhd after it sold 50 million shares on Nov 7. At the closing price of 2.5 sen that day, the block would have fetched RM1.25 million.
The disposal came weeks after loss-making NetX proposed a par value reduction exercise, seeking to cancel three sen in par value to two sen to eliminate its accumulated losses and allow the stock to trade above its current par value. The proposal will be put to a vote at an extraordinary general meeting on Nov 24. NetX closed at 2.5 sen last Wednesday.
Over at upstream oil and gas company Uzma Bhd, Franklin Resources Inc emerged as a substantial shareholder with a 5.05% stake after buying 14.7 million shares on Oct 25.
Its entry came about a month after the Employees Provident Fund (EPF) surfaced as a substantial shareholder in end-September. Closing at RM1.57 last Wednesday, Uzma’s share price has fallen more than 30% in the past year.
Notable movements
Nexgram Holdings Bhd’s major shareholder, Tey Por Chen, has continued to trim his stake in the IT firm. He sold another 30 million shares in an off-market deal on Nov 3, reducing his stake to 6.53% or 122.79 million shares.
Tey owned 12% in early March.
The disposal price was not disclosed but Tey could have got RM1.5 million for the block, going by Nexgram’s closing price of five sen on
Nov 3. Just over a week after the transaction, the stock fell to four sen at the close on Nov 11.
That was the second time the counter hit four sen in at least five years. The first time was in early September. It has been a rough year for the company, with its share price set back 52.63% year to date.
Following the sale, Tey remains the fourth largest shareholder in Nexgram, according to Bloomberg. The stock closed at five sen last Wednesday.
Meanwhile, the EPF made several transactions involving shares of education material publisher Sasbadi Holdings Bhd between Nov 3 and 8. After a series of disposals earlier this month, the provident fund bought just under six million shares on Nov 3 and 4 to raise its holding to 7.12%.
However, it pared its stake further to 6.88% or 19.24 million shares last Wednesday.
Sasbadi’s share price has risen 22.9% year to date. It closed at RM1.53 last Wednesday after a surge of 6.25%, the biggest single-day jump so far this month.
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