KUALA LUMPUR (Aug 22): Ramssol Group Bhd saw its shares actively traded and its share price reached a seven-month high on Tuesday (Aug 22), after Top Glove Corp Bhd founder and executive chairman Tan Sri Dr Lim Wee Chai emerged as a substantial shareholder.
At market close, Ramssol, which provides solutions for human capital management, saw 31.43 million shares change hands, which was more than 10-fold its 200-day average volume of 1.83 million shares. It was also higher than Monday’s volume of 1.29 million shares.
Its share price rose five sen or 14.08% higher at 40.5 sen against its last closing price of 35.5 sen on Monday, giving Ramssol a market capitalisation of RM99.37 million. It reached an intraday high of 41.5 sen.
Its closing price reached a seven-month high on Feb 23 at 44 sen.
According to Bloomberg, however, Ramssol's share price had declined by 7.95% year-to-date, and decreased by 5.81% in 12 months.
Lim has raised his stake to 7.46% in the human resources solutions provider, after buying 14 million shares or a 5.71% stake via a direct business transaction on Aug 17, without disclosing the price.
Prior to that, he owned 4.3 million shares or a 1.75% stake in the company.
Ramssol shares closed at 36 sen on Aug 17, and at that price, the 14 million shares would have cost Lim RM5.04 million.
Lim is now the third largest shareholder of Ramssol, after Ramssol managing director and chief executive officer Tan Chee Seng (with a 30.32% stake) and non-independent non-executive director Lee Miew Lan (10.51%).
Meanwhile, Top Glove shares went up by one sen or 1.82% to 83.5 sen on Tuesday, valuing the company at RM6.9 billion.
