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NewsNotable Trade 3.3% of LBS Bina shares traded off-market at RM1.55
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Notable Trade 3.3% of LBS Bina shares traded off-market at RM1.55
by Cals Mon 18 Apr 2016, 01:30
- Notable Trade
[size=28]3.3% of LBS Bina shares traded off-market at RM1.55
By Kamarul Anwar / theedgemarkets.com | April 15, 2016 : 6:40 PM MYTKUALA LUMPUR (April 15): A total of 18 million LBS Bina Group Bhd shares were traded off market this morning, making up 3.26% of the property developer’s share base, according to Bloomberg data.
The three blocks of direct deals, which occurred between 11:20 am and 11:21 am, valued the shares at RM1.55 apiece.
The transacted price was at a 2.52% discount to LBS Bina’s closing price of RM1.59 in the open market today.
The stock moved only as much as one sen earlier today, before closing flat.
Bloomberg data does not include the list of buyer(s) and seller(s).
LBS Bina has been going against the contrary to its fellow property developers, which have been losing investors’ interests after the cooling measures slowed down home sales.
In 2016 alone, LBS Bina shares have gone up by more than 15%, from RM1.38 at the turn of the year.
On Monday (April 11), the company made an offer to acquire ML Global Bhd shares at 56 sen each, after breaching the threshold to mandatorily put out a general offer. LBS Bina will also buy the roof tiles producer and construction outfit’s warrants at six sen apiece.
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