Friday 02 Jun 2023
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KUALA LUMPUR (Dec 12): Kenanga Investment Bank Bhd (Kenanga IB) saw some 53.76 million shares, representing a 7.44% stake, cross off-market today.

According to Bloomberg data, the shares crossed in two blocks at 52 sen apiece — a 4.59% discount to the last traded price of the stock on the open market of 54.5 sen — for a total consideration of RM27.96 million. 

Parties involved in the transactions were not immediately made known. 

A filing with Bursa Malaysia today showed its independent non-executive director Luigi Fortunato Ghirardello acquired 50,000 ordinary shares through open market on Dec 8 for a minimal transaction value. Ghirardello owns 190,000 shares in Kenanga IB or a direct interest of 0.03%. 

Meanwhile, Deutsche Bank AG has been progressively disposing of its 13.84% stake in the brokerage as part of efforts to optimise its capital under Basel III guidelines as announced in 2014, with some 7.44% indirect interest remaining as at Sept 21, 2017, the bourse filing added. 

On the open market, the counter dropped 0.5 sen at 54.5 sen, seeing 418,700 shares exchanged, valuing it at RM393.79 million.

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