This article first appeared in The Edge Financial Daily on June 21, 2017 - June 27, 2017

KUALA LUMPUR: Loss-making MQ Technology Bhd saw a block of shares representing about 9.64% of its issued share capital traded off-market.

According to Bloomberg data, a block of 40 million of the company’s shares were transacted at six sen per share, translating into a total value of RM2.4 million. The six sen price tag represents a 20% premium to its closing of five sen.

The parties involved in the trade were not known at the time of writing.

Penang-based MQ Technology is primarily involved in the manufacturing of moulds, tools, dies, jigs and fixtures used in the manufacturing of hard disk drives.

Last month, Robbie Hari Krishnan Tatparandam, the nephew of tycoon T Ananda Krishnan, retired as an executive director of MQ Technology after being appointed in December last year.

MQ Technology’s share price closed unchanged at five sen yesterday, with a market capitalisation of RM20.74 million.