(LEADER opening stock price today (11.5.2012) was RM 1.09)
HNG Capital Sdn Bhd has been confirmed as the buyer of a 15.36% stake in Sarawak Cable Bhd from Leader Universal Holdings Bhd.
Filings with the stock exchange showed that HNG Capital, which has a 14.4% stake in Penang-based cable manufacturer Leader Universal, bought 20.74 million shares owned by the latter on Monday for RM1.70 per share, or a total of RM35.3mil.
StarBiz had reported the off-market trade on Tuesday, which was done at 21 sen or nearly 11% below Friday's closing price of RM1.91.
Incidentally, Leader Universal is currently being privatised by HNG Capital, a company controlled by the H'ng family, making this a related-party transaction.
Source: www.thestar.com.my
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