MQ Technology sees 9.6% stake traded off market

MQ Technology sees 9.6% stake traded off market
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KUALA LUMPUR (June 20): Loss-making MQ Technology Bhd saw a block of shares representing about 9.64% of its issued share capital, traded off market today.

According to Bloomberg data, a block of 40 million of the company’s shares were crossed at 6 sen per share, translating into a total value of RM2.4 million. The 6 sen price tag represents a 20% premium to its closing of 5 sen.

The parties involved in the trade were not known at the time of writing.

Penang-based MQ Technology is primarily involved in the manufacturing of moulds, tools, dies, jigs and fixtures used in the manufacturing of hard disk drives.

Last month, Robbie Hari Krishnan Tatparandam, the nephew of tycoon T Ananda Krishnan, had retired as an executive director of MQ Technology, after being appointed in December last year.

MQ Technology’s share price closed unchanged at 5 sen, giving it a market capitalisation of RM20.74 million.