IN the week from Oct 5 to 11, some 608 million shares worth RM1.75 billion changed hands off market in blocks of at least 450,000 shares.
Notable transactions include a direct deal on Oct 6 of 49.93 million shares or 4.1% equity interest at Trive Property Group Bhd (formerly Eti Tech Corp Bhd) for RM1.1 million. The block was sold at 2.2 sen a share, a steep discount to the 8.5 sen and 9 sen the shares fetched on the open market that day.
Based on its 2016 annual report, as at May 5, Trive Property had two shareholders with the same number of shares as the block traded on Oct 6. They were both held by SJ Securities Nominees (Tempatan) Sdn Bhd, being pledged securities for Quek Choon Tein and Erh Fwu Dih. No announcements about the transaction had been made at the time of writing.
Over at Bison Consolidated Bhd, 10 million shares changed hands in two direct trades on Oct 7 at RM1.88 apiece, which was also its closing price on that day. The block represents a 3.2% stake in the group, which operates the MyNEWS.com stores, among others. Bison, which made its debut on Bursa Malaysia on March 29 at an initial public offering price of RM1.10, closed as high as RM2 on Sept 30.
Reinsurance company MNRB Holdings Bhd saw four million shares change hands in a direct trade on Oct 6 at RM3.15 apiece, just above its closing price of RM3.14 a share that day. The block was sold by Permodalan Nasional Bhd (PNB) for RM12.6 million. PNB retains over 23 million shares or 10.8% equity interest post-disposal.
Some of the bigger counters also saw sizeable transactions by value. At CIMB Group Holdings Bhd, a block of 48.5 million shares was traded directly at RM4.75 apiece on Oct 6, which was slightly lower than its closing price of RM4.79 that day. This stake, valued at RM230.5 million, amounts to 0.5% of CIMB’s share base.
Telekom Malaysia Bhd saw a block of 17.5 million shares directly traded at RM6.74 apiece, or for RM117.95 million on Oct 6. The counter closed one sen higher that day, trending slightly downwards after hitting a 15-month high of RM6.80 in late September.
Some 25.8 million BIMB Holdings Bhd shares were traded in a direct deal worth RM108 million on Oct 10. The shares changed hands at RM4.19 apiece, just below its closing price of RM4.20 that day. The counter has rallied over 12% year to date.
At Sime Darby Bhd, substantial shareholder PNB pared its stake by 10 million shares on Oct 6. Nine million shares were picked up in a direct transaction worth RM70.6 million or RM7.85 each. PNB retains 384.7 million shares or a 6.08% stake in the conglomerate.
There was a flurry of crossed trades at Kuala Lumpur Kepong Bhd (KLK) between Oct 6 and 11. The counter saw 11 transactions of 500,000 shares each, and one for 490,000 shares, at prices ranging from RM24.02 to RM24.04 apiece. KLK’s shares traded between RM23.92 and RM24.48 on the open market the same days before closing at RM24.02 on Oct 11.
Activity continued at Perisai Petroleum Teknologi Bhd following its announcement on Oct 5 that it had defaulted on a S$125 million
(RM377 million) bond that matured on Oct 4. To recap, 70% of voting bondholders rejected its request to extend the maturity date to February next year.
During the period under review, 12.95 million Perisai shares were traded in secveral block trades worth just over RM1 billion in total, with prices ranging from seven sen to 10 sen a share. Roughly 37% of the volume was transacted on Oct 5, the day after the announcement. Perisai’s share price had fallen over 76% year to date at the time of writing.
Save by subscribing to us for your print and/or digital copy.
P/S: The Edge is also available on Apple's AppStore and Androids' Google Play.