Diversified automotive, machineries and property group Boon Koon Group Bhd saw the emergence of a new substantial shareholder on April 17. Datuk Seri Chiau Being Teik, deputy group executive chairman and founder of building materials firm Chin Hin Group Bhd, bought 42.03 million shares, 40 million of which were transacted off market. On the same day, Boon Koon group executive chairman and founder Datuk Goh Boon Koon sold 40 million shares at 45 sen apiece in an off-market transaction. The acquisition pushed Chiau’s overall direct interest to 55.42 million shares or a 20.03% stake while Goh held 23.69 million shares or a 8.56% stake.
Boon Koon later appointed Chiau and his son, Haw Choon, who is group managing director of Chin Hin Group, as non-executive directors, an April 25 filing show.
At last Wednesday’s close of 45 sen, the counter was up 275% year to date. Last Sept 6, it closed at 9.5 sen.
Recalled that Chin Hin boss bought 40mil shares at 45 sen. Something must be in the planning. So i guess once the share price exceeds 45 sen with high volumn, there will be another round of rally.
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Stockgod8
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Posted by Stockgod8 > 2017-04-25 00:50 | Report Abuse
Shubaan1 is my news who told me that, not my own view. Cheers up.