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NewsDestini sees 8.39% of its shares traded off-market, buyer said to be MoF
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Destini sees 8.39% of its shares traded off-market, buyer said to be MoF
by Cals Fri 28 Aug 2015, 12:11
Destini sees 8.39% of its shares traded off-market, buyer said to be MoF
KUALA LUMPUR: Oil and gas services provider Destini Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw 67.83 million of its shares, representing an 8.39% stake in the company, crossed off-market yesterday for RM39.34 million.
According to Bloomberg data, the shares were transacted in two blocks at 58 sen each.
A source told digitaledge DAILY that the party involved in the transactions was the Ministry of Finance Inc.
Based on the group’s filings with Bursa Malaysia, the current two largest shareholders of Destini are its managing director Datuk Rozabil Rozamujib Abdul Rahman, with a 31.87% stake as at May 8, and Cayman Island-registered fund Harbour Asia Opportunity Master Fund (11.41% as at Aug 12).
Destini (fundamental: 1.7; valuation: 1.1) shares closed unchanged at 58 sen yesterday, giving it a market capitalisation of RM468.66 million.
Year-to-date, Destini’s share price has fallen 3.33%, but outperforming the FBM KLCI’s 9.06% decline.
This article first appeared in digitaledge Daily, on August 28, 2015.
KUALA LUMPUR: Oil and gas services provider Destini Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw 67.83 million of its shares, representing an 8.39% stake in the company, crossed off-market yesterday for RM39.34 million.
According to Bloomberg data, the shares were transacted in two blocks at 58 sen each.
A source told digitaledge DAILY that the party involved in the transactions was the Ministry of Finance Inc.
Based on the group’s filings with Bursa Malaysia, the current two largest shareholders of Destini are its managing director Datuk Rozabil Rozamujib Abdul Rahman, with a 31.87% stake as at May 8, and Cayman Island-registered fund Harbour Asia Opportunity Master Fund (11.41% as at Aug 12).
Destini (fundamental: 1.7; valuation: 1.1) shares closed unchanged at 58 sen yesterday, giving it a market capitalisation of RM468.66 million.
Year-to-date, Destini’s share price has fallen 3.33%, but outperforming the FBM KLCI’s 9.06% decline.
This article first appeared in digitaledge Daily, on August 28, 2015.
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