Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 2): A total of 12.45 million Kumpulan Powernet Bhd shares were transacted off-market today, equivalent to 16.4% of its overall outstanding shares.

According to Bloomberg data, the shareholding changes were done in 10 transactions, all at RM1, valuing them at RM12.45 million.

Nine transactions were done during market break before the group announced that Serba Dinamik Holdings Bhd group managing director and CEO Datuk Dr Mohd Abdul Karim Abdullah (offeror) had made a takeover offer to buy the remaining shares of Kumpulan Powernet at RM1 each.

The last transaction involving 200,000 shares was done at 4:43pm.

Parties involved in the off market transactions were not known as at press time.

In the open market, Kumpulan Powernet closed seven sen or 7.6% higher, with 4.04 million shares traded.

The group had a market capitalisation of RM75.39 million.

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