Notable Trade Major shareholders trim stakes in Kawan Food

by **Cals** Tue 12 May 2015, 22:20

Notable Trade
Major shareholders trim stakes in Kawan Food

KUALA LUMPUR (May 12): Substantial shareholders of Kawan Food Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) are trimming their equity stake in the frozen food manufacturers to take advantage of the rally on its share price.
The filings to Bursa Malaysia today show two substantial shareholders have sold a combined 2.2% stake or four million shares.
Major shareholder Gan Thiam Hock, who is the executive director of Kawan Food, sold three million shares at RM1.80 per share yesterday (May 11), paring his interest to 11.99 million shares or 6.5% stake in Kawan Food.
Meanwhile, another substantial shareholder, Japanese-based Goshenite Limited, has also sold one million shares at the same price yesterday, paring its interest to 36.1 million shares or 19.7% equity stake in Kawan Food (fundamental: 3; valuation: 1.1).
Goshenite had disposed 6.1 million shares or 3.3% stake in the firm last month (April), also at the same price via off market transaction.
Kawan Food share price has been on a steady climb, rising from RM1.38 end-2014 to all time high of RM1.93 last month. Year-to-date, the stock has gained 37% or 50 sen.
(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.)