Asia Poly sees 5% interests cross off market

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KUALA LUMPUR (April 20): ACE Market-listed Asia Poly Holding Bhd saw some 4.39 million shares or 5% of its issued and paid up capital changed hands in an off-market transaction today, for a total of RM2.195 million.

Bloomberg data showed the transaction was done at 50 sen per share. Details of the buyer and seller were not available at the time of writing.
The transacted price was 7 sen or 16.3% higher than the group's closing share price of 43 sen today.

Asia Poly is the manufacturer of A-Cast branded cast acrylic sheets that can be used for signboards and lighting displays.

It is worth noting that a total of 28.7 million shares or 32.65% of its issued and paid up capital changed hands in three separate off-market transactions for a total of RM12.3 million on April 13.

On April 17, in a filing with Bursa Malaysia, Asia Poly announced that Datuk Yeo Boon Leong has emerged as a substantial shareholder, after acquiring 24.27 million shares off-market on April 13.  As at April 14, he owned 24.8 million shares or a 28.22% stake in Asia Poly.   

Meanwhile, Tan Sri Lim Tong Yong ceased to be a substantial shareholder after disposing off his 24.27 million shares.

Asia Poly (fundamental: 0.55; valuation: 0.8) closed unchanged at 43 sen today, with 1.11 million shares done. Its market capitalisation stood at RM37.8 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. )