SCH Group sees 14.4% stake traded off market

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KUALA LUMPUR (July 23): SCH Group Bhd saw some 68 million shares, representing a 14.4% stake, traded off market at 17 sen per share.

According to data compiled by Bloomberg, the trades were done in two tranches of 20 million and 48 million shares each. The transacted price of 17 sen was 3.03% above the share’s closing price of 16 sen today.

There were only about 1.38 million shares traded in the open market today.

Recall that Hextar Holdings Sdn Bhd had emerged as a substantial shareholder of SCH Group via the acquisition of 60 million shares, or a 12.7% stake, in a private placement exercise.

The private placement was aimed at raising RM19.06 million through the issuance of up to 103 million new shares.