Teo Seng Capital sees 4.85 million of its shares traded off-market

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KUALA LUMPUR (Nov 25): Poultry farming company Teo Seng Capital Bhd saw 4.85 million shares, representing a 2.42% stake in the company, changing hands off market today, according to Bloomberg data.

The 4.85 million shares were moved in 9 blocks and transacted at RM2.10 per share.

Teo Seng had reported a 56% jump in net profit in its third quarter ended Sep 30, 2014 (3QFY14) to RM10.76 million from RM6.89 million a year ago, which it attributed to higher selling prices for its products and lower feed prices.

Its share price, which was at a low of 57 sen a year ago, has been on an upward trend since. It peaked at RM2.49 early this month, which The Edge Research, in its report published in The Edge Financial Daily on Nov 4, attributed to an increased interest in poultry stocks.

Teo Seng shares closed 4 sen or 1.9% higher today at RM2.14, arising to a market capitalisation of RM428 million.