KUALA LUMPUR (Aug 8): Cape EMS Bhd (KL:CEB) managing director and chief executive officer Christina Tee Kim Chin trimmed her stake in the company by another 11.6% after selling 115.25 million shares worth RM44.86 million on Wednesday.

The transaction translates to an average price of 38.92 sen per share, which is 6.2% lower than the stock’s volume weighted average price (VWAP) of 41.5 sen on Wednesday.

On Wednesday, Cape EMS was the top active stock on Bursa Malaysia, with a trading volume of 736 million shares, translating to a turnover ratio of 74% of its total issued share capital of 992 million. 

Following the latest share sale, Tee's shareholding in the company shrank to 13.98% from 38.05% on July 29, down by 24.06%.

At noon break on Thursday, the stock staged a strong rebound to settle at 49 sen - up 5.5 sen or 12.64%. It is the second-most traded counter on the bourse with some 231.43 million shares changing hands, equivalent to a 23.3% stock turnover ratio.

According to a bourse filing, Cape EMS’ net tangible asset per share is 47 sen apiece. Its market capitalisation stands at RM486.08 million. 

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