KUALA LUMPUR (Jan 16): Sterling Progress Bhd saw some 28.12 million shares traded off-market today, equivalent to a 9.82% equity stake in the loss-making ICT company.
According to Bloomberg data, the shares were traded in three blocks of 2.48 million, 11.65 million and 13.98 million shares at 36 sen each, representing a 16% premium to its closing price of 31 sen.
The parties involved in the transactions were not disclosed.
Sterling Progress reported a lower net loss of RM3.47 million for the second quarter ended Sept 30, 2017, against RM4.03 million a year ago. Revenue fell 79% to RM5.9 million from RM27.87 million.
The group attributed the lower revenue to lower sales of notebooks and smartphones.
Sterling Pogress' share price closed up 2 sen or 6.9% at 31 sen for a market capitalisation of RM88.75 million.