Notable Trade Takaso sees 9.77% stake traded off-market for RM7.6m

by **Cals** Wed 22 Jul 2015, 00:06

Notable Trade
Takaso sees 9.77% stake traded off-market for RM7.6m

KUALA LUMPUR (July 21): Baby products and condoms maker Takaso Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw 19.96 million of its shares that represent a 9.77% stake in the company traded off-market today for RM7.6 million.
According to Bloomberg, the shares were moved in six blocks comprising one block of 13.96 million shares — for 33 sen each — and five blocks of 6 million shares in all at 50 sen apiece, which totaled RM7.6 million.
The 33 sen price tag represented a discount of 29.79% to Takaso’s current trading price of 47 sen, while the 50 sen price tag was at a premium of 6.38% to Takaso’s market price.
It is not immediately known who the buyers and sellers of the shares were.
Takaso (fundamental: 1.65; valuation: 0.3), which also has interests in construction and property development, entered into a conditional joint venture agreement with SSPP Development Sdn Bhd last month in relation to a proposed mixed development on a parcel of land in Bandar Kuantan, Pahang.
The group’s largest shareholder is OCR Land Holdings Sdn Bhd — a vehicle of Takaso executive director Ong Kah Hoe — which owns a 15.01% stake. This is followed by Nextplus Fortune Sdn Bhd — a vehicle of Takaso executive chairman Tee Tze Chern — with a 14.46% stake.
Year to date, Takaso shares have lost 12.15% to close at 47 sen today, giving it a market capitalisation of RM96.02 million.
[size=12](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.)[/size]