Notable Trades Berjaya founder Vincent Tan cuts Stemlife stake

by **Cals** Thu 10 Dec 2015, 01:01

Notable Trades

[size=28]Berjaya founder Vincent Tan cuts Stemlife stake

By Chong Jin Hun / theedgemarkets.com | December 9, 2015 : 1:34 PM MYT

KUALA LUMPUR (Dec 9): Berjaya Corp Bhd ([You must be registered and logged in to see this image.] Valuation: 2.40, Fundamental: 0.90) founder Tan Sri Vincent Tan cut his stake in Stemlife Bhd ( Valuation: 0.00, Fundamental: 1.95) to 8.99% following a take-over offer for the stem-cell specialist.

Cordlife Group Ltd ([You must be registered and logged in to see this image.] Valuation: 2.10, Fundamental: 1.55) is offering to buy the remaining shares in Stemlife for 45 sen a share. The offer turned unconditional last Monday (Dec 7) when Cordlife upped its Stemlife stake to 50.03%.

In a statement to Bursa Malaysia today, Stemlife said Tan sold 2.61 million shares on the open market last Thursday (Dec 3). Following the sale, Tan still owned 22.25 million shares or 8.99% in Stemlife.

His Stemlife stake is held via Juara Sejati Sdn Bhd, which directly holds the Stemlife shares. Berjaya Corp is the ultimate holding company of Juara Sejati.

Tan's current stake in Stemlife compares with 10.045% on July 1 this year.

According to Stemlife's bourse announcements, which date back as far as 2006, Tan had emerged as a major shareholder in Stemlife with a 12.5% stake on Oct 18 that year.

Juara Sejati had then acquired 20.63 million shares on the open market and via off-market transaction.

At 12:30pm today, Stemlife shares settled unchanged at 44.5 sen for a market value of RM110.1 million. The stock saw 381,600 shares transacted.

(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.)

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