KUALA LUMPUR (July 14): Mulpha International Bhd saw 13.07 million of its shares, representing a 4.09% stake, crossed off-market yesterday.

According to Bloomberg, the shares were crossed at RM2 a piece, representing a 6.1% discount over Mulpha’s yesterday closing of RM2.13, for a total of RM26.13 million. It is not immediately known who the buyers or sellers of the block of shares were.

Mulpha’s largest shareholders are its chairman Lee Seng Huang and his mother Yong Pit Chin, who together control a 44.96% stake in the group.

Mulpha is Malaysia’s largest real estate investor and developer in Australia, and its assets in the land down under include the InterContinental Sydney Hotel, Sanctuary Cove in Queensland and One & Only Hayman Island, Great Barrier Reef.

The group also has a strategic investment in the London Marriott Hotel Grovesnor Square in the UK.

Mulpha shares gained one sen to RM2.13 yesterday, with a market capitalisation of RM680.5 million.

This article first appeared in The Edge Financial Daily, on July 14, 2017.

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