Kejuruteraan Asastera sees 4.48% stake traded off-market

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KUALA LUMPUR (May 23): Kejuruteraan Asastera Bhd saw 15 million of its shares, representing a 4.48% stake in the company, traded off-market today.

Bloomberg data showed the two blocks of shares were transacted ahead of the noon market break at 21.5 sen apiece or RM3.23 million in aggregate.

Parties involved in the transaction were not known at the time of writing.

On May 8, Kejuruteraan Asastera announced the successful listing of the first tranche of its special issue of up to 34 million new shares to Bumiputera investors on the ACE Market.

The first tranche of the placement of 15 million shares was fixed at a price of 20 sen apiece.

In the open market today, Kejuruteraan Asastera shares closed half a sen or 2.38% lower at 20.5 sen in thin trade. At its current price, the electrical and mechanical engineering firm has a market capitalisation of RM68.68 million.

The company is controlled by its 52-year-old founder and managing director Datuk Lai Keng Onn, who owns a 45% direct stake and a 12.5% indirect stake held via GAT Success (M) Sdn Bhd.