#Notable trade* BLand sees 5.48% stake change hands

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KUALA LUMPUR (Sept 02): A total of 272.5 million or 5.48% of Berjaya Land Bhd’s (BLand) shares were transacted off market in a direct deal, according to Bloomberg data. The shares were valued at 75 sen apiece or RM204.38 million in total, representing an 11.76% discount to the property developer’s market price on Bursa Malaysia.

There were three blocks of BLand shares that were traded off market today, occurring between 2:47 pm and 3:05 pm. On the open market however, the shares were barely traded with a trade volume of 8,600, and the counter closed unchanged at 85 sen.

While it is unknown who the parties involved in the off-market transaction of BLand shares were, the company’s equity is tightly held within Tan Sri Vincent Tan Chee Yioun’s Berjaya Group.

As at July 24, Tan held a 7.81% direct stake in Berjaya Land and a 61.01% indirect stake, which he was deemed interested by virtue of his stake in multiple companies.