Vertical Capacity buys more shares in IOI Properties

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KUALA LUMPUR(Aug 29): Vertical Capacity Sdn Bhd, the single largest shareholder of IOI Properties Bhd, bought additional shares in the company, at the time when its share price is on a climb.

The latest filings to Bursa Malaysia show Vertical Capacity bought 1.04 million IOI Properties shares on Aug 24 at RM2.44 per share, for a total acquisition price RM2.5 million; and another 110,000 shares on Aug 26 at RM2.50 per share, for a total of RM275,000.

The share purchases raised Vertical Capacity’s stake in IOI Properties to 50.9% as at Aug 26.

Compared to a year ago, IOI Properties’ share price has gained 39.2%, from RM1.80-level to RM2.52 today — the highest since early November, 2014.