Xingquan saw 15.6 mil warrants traded off-market at 36% discount

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KUALA LUMPUR (Sept 1): China-based shoe maker Xingquan International Sports Holdings Ltd today saw 15.6 million units of the company’s warrants, or 9.23% of its total outstanding warrants, crossed off-market.

According to Bloomberg data, the transaction was done in a single tranche, at the price of 3.5 sen or 36.4% discount from today’s closing price of 5.5 sen today.

Parties involved in the transaction are not known yet as at press time.

In the open market, there were only 680,400 warrants traded as of market close.

Meanwhile, Xingquan (fundamental: 1.95; valuation: 3.0) also saw a single tranche of 1.5 million shares or 0.44% traded off-market, at 40 sen per share or 19.19% discount from the closing price of 49.5 sen today.

The group’s share price went up one sen or 2.06%, with 769,600 shares traded, giving it a market capitalisation of RM163.96 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.)