5.04% of Green Packet traded off-market

This article first appeared in The Edge Financial Daily, on September 11, 2019.
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KUALA LUMPUR: Green Packet Bhd saw 5.04% or 45.5 million of its shares traded off-market yesterday for RM27 million.

Bloomberg data show the shares crossing in six blocks, all at 60 sen each, within the final trading hour yesterday.

The transacted price represents a 9.8% discount to its last price of 66.5 sen in the open market, where 34.15 million shares exchanged hands.

At the time of writing, the identities of the parties involved in the transactions were not known.

On July 23, it was reported that a total of 72.6 million shares, representing an 8.06% stake in Green Packet, were transacted in an off-market deal at 20 sen apiece or RM14.52 million between parties unknown.

Yesterday’s transaction price tripled against the off-market trades on July 23.

Founder Puan Chan Cheong, better known as CC Puan, returned as Green Packet’s group managing director cum chief executive officer after being redesignated from his previous position as non-executive director in a management reshuffle aimed at growing the telecommunications company’s digital ventures.

He remains as Green Packet’s largest shareholder with an 18.77% stake held via Green Packet Holdings Ltd.