Sterling Progress sees 5% stake traded off market

Sterling Progress sees 5% stake traded off market
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KUALA LUMPUR (Dec 19): Sterling Progress Bhd today saw 14.31 million shares transacted off-market. The shares represent 5% of the company’s total outstanding shares totalling 286.29 million.

According to Bloomberg data, there were two transactions, both at 15 sen per share, valuing the deals at RM2.15 million.

The transacted price was at a 25% discount to the stock’s open market closing price of 20 sen today.

Parties involved in the transaction were not immediately known.

Sterling Progress’ closing price of 20 sen in the open market today was one sen or 5.26%  higher than yesterday.

The group has a market capitalisation of RM57.26 million.