Notable Trade KBES sees 17.79% stake traded off-market

by **Cals** Sat 23 Jan 2016, 02:04

Notable Trade

[size=28]KBES sees 17.79% stake traded off-market

By Yimie Yong / theedgemarkets.com | January 22, 2016 : 7:18 PM MYT

KUALA LUMPUR (Jan 22): Express bus operator KBES Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 0.20) saw some 22.42 million shares of its shares, which represent a 17.79% stake in the company, traded off-market today for RM11.21 million.

According to Bloomberg data, the KBES shares were moved in a direct business transaction block at 50 sen per share, 11.5 sen higher than its last-traded price of 38.5 sen today.

However, it is not immediately known as to whom the parties involved in the transactions were.

According to the company's filing dated Jan 6, KBES's largest shareholder, Sani Zaleha Sdn Bhd, was left with a 17.79% stake in KBES, after disposing of 509,700 shares in the open market on Dec 31, 2015.

Lau Chan Seng has an indirect interest of 17.89% stake in the company, through Sani Zeleha Sdn Bhd; while Datuk Che Azizuddin Che Ismail, has a 5.96% stake in the company.

Che Azizuddin, the former chief executive officer (CEO) of Konsortium Logistik Bhd, first emerged as a substantial shareholder in KBES, with a 5.17% stake, according to a bourse filing dated Aug 21, 2015.

At its closing price of 38.5 sen today, KBES was valued at RM48.51 million.

(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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