KUALA LUMPUR (Aug 7): Some 23.36 million shares of Cape EMS Bhd (KL:CEB), representing a 2.37% stake, were traded off-market on Thursday and a large bulk of the shares changed hands at below closing price of 47.5 sen.

Bloomberg data showed that these shares were transacted in 27 blocks, of which 2.46 million shares changed hands at 47.5 sen each, and 20.9 million shares, which were divided in four blocks, traded at 42 sen each at a discount of 5.5 sen, or 11.6% against Thursday’s closing price. 

In total, the chunk of 23.36 million shares fetched a total of RM9.94 million.  

The identities of those who participated in the trades are currently unknown.

Cape EMS has hogged the limelight as its share price fell off the cliff over the past two weeks, dropping from RM1.01 in mid-July to an all-time low of 40.5 sen. The stock closed at 47.5 sen on Thursday, giving it a market capitalisation of RM472 million.  

Furthermore managing director and chief executive officer Christina Tee Kim Chin, who is believed to be hit by margin calls, has been selling her stake. As at Aug 8, Tee’s equity stake more than halved to 13.98% from 38.05% on July 29.

Cape EMS once again topped the list of most actively traded stocks on Bursa Malaysia on Thursday, with a trading volume of over 405 million shares.

https://www.theedgemarkets.com/node/722208