Friday 29 Mar 2024
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KUALA LUMPUR (July 21): Baby products and condoms maker Takaso Resources Bhd saw 19.96 million of its shares that represent a 9.77% stake in the company traded off-market today for RM7.6 million.

According to Bloomberg, the shares were moved in six blocks comprising one block of 13.96 million shares — for 33 sen each — and five blocks of 6 million shares in all at 50 sen apiece, which totaled RM7.6 million.

The 33 sen price tag represented a discount of 29.79% to Takaso’s current trading price of 47 sen, while the 50 sen price tag was at a premium of 6.38% to Takaso’s market price.

It is not immediately known who the buyers and sellers of the shares were.

Takaso (fundamental: 1.65; valuation: 0.3), which also has interests in construction and property development, entered into a conditional joint venture agreement with SSPP Development Sdn Bhd last month in relation to a proposed mixed development on a parcel of land in Bandar Kuantan, Pahang.

The group’s largest shareholder is OCR Land Holdings Sdn Bhd — a vehicle of Takaso executive director Ong Kah Hoe — which owns a 15.01% stake. This is followed by Nextplus Fortune Sdn Bhd — a vehicle of Takaso executive chairman Tee Tze Chern — with a 14.46% stake.

Year to date, Takaso shares have lost 12.15% to close at 47 sen today, giving it a market capitalisation of RM96.02 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.)

 

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