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Notable Trade Tan Sri Lau continues to up stake in Borneo Oil
by Cals Tue 28 Oct 2014, 21:21
Notable Trade
Tan Sri Lau continues to up stake in Borneo Oil
KUALA LUMPUR (Oct 28): Tan Sri Lau Cho Kun has just increased his stake in Borneo Oil Bhd (Borneo Oil), having purchased some 6.9 million shares or a 2.47% indirect stake in the company yesterday.
Based on the group’s filing with Bursa Malaysia today, the shares were purchased at 69.7 sen a piece via Hap Seng Insurance Services Sdn Bhd (HS Insurance), bringing Lau’s stake in the company to 25.5%.
Lau first emerged as a substantial shareholder of the gold-mining firm, when HS Insurance bought 51.2 million shares in Borneo Oil on Oct 3, 2014. He is deemed interested by virtue of his direct interest in Gek Poh (Holdings) Sdn Bhd, HS Insurance’s parent company, which has a 18.47% stake in Borneo Oil.
Borneo Oil’s share price has seen a notable improvement since Lau came into the picture, growing by 25%. It even reached a 52-week high of 84 sen at the end of October 2014. Year-to-date, the company’s share price has gone up by 38.33%.
Today, Borneo Oil’s price closed 1 sen higher at 83 sen, giving it a market capitalization of RM225.77 million.
Tan Sri Lau continues to up stake in Borneo Oil
KUALA LUMPUR (Oct 28): Tan Sri Lau Cho Kun has just increased his stake in Borneo Oil Bhd (Borneo Oil), having purchased some 6.9 million shares or a 2.47% indirect stake in the company yesterday.
Based on the group’s filing with Bursa Malaysia today, the shares were purchased at 69.7 sen a piece via Hap Seng Insurance Services Sdn Bhd (HS Insurance), bringing Lau’s stake in the company to 25.5%.
Lau first emerged as a substantial shareholder of the gold-mining firm, when HS Insurance bought 51.2 million shares in Borneo Oil on Oct 3, 2014. He is deemed interested by virtue of his direct interest in Gek Poh (Holdings) Sdn Bhd, HS Insurance’s parent company, which has a 18.47% stake in Borneo Oil.
Borneo Oil’s share price has seen a notable improvement since Lau came into the picture, growing by 25%. It even reached a 52-week high of 84 sen at the end of October 2014. Year-to-date, the company’s share price has gone up by 38.33%.
Today, Borneo Oil’s price closed 1 sen higher at 83 sen, giving it a market capitalization of RM225.77 million.
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