RCE Capital sees 4.36% of its shares cross off-market

RCE Capital sees 4.36% of its shares cross off-market
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KUALA LUMPUR (Aug 21): RCE Capital Bhd saw some 55.51 million shares, representing a 4.36% stake in the company, crossed off-market today for RM21.37 million.

According to Bloomberg data, the shares were moved 38.5 sen apiece. 

It is not known immediately who the parties involved in the transaction were.

According to Bloomberg, Cempaka Empayar Sdn Bhd is the single largest shareholder of RCE Capital, with 724.29 million shares or a 56.93% stake as at July 15 this year. 

This is followed by Asas Kreative Sdn Bhd with 55.51 million shares or a 4.36% stake. 

RCE Capital (fundamental: 1.25; valuation: 2) is principally involved in provision of general loan financing services.

For its first financial quarter ended June 30, 2015 (1QFY16) posted a 37.2% jump in net profit to RM9.44 million from RM6.88 million a year ago, while revenue grew 23.3% to RM37.49 million from RM30.41 million. 

The stock closed up one sen or 1.3% at 39 sen today, with 6.09 million shares changing hands. The current price gives it a market capitalisation of RM496.22 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)