KUALA LUMPUR (Aug 16): YNH Property Bhd’s chairman Datuk Dr Yu Kuan Chon sold another 1.76% stake in the company yesterday, trimming his direct stake to 20.01%.

Yu disposed of the stake, comprising 9.26 million shares, for RM11.01 million or RM1.19 per share. This represents a discount of nearly 12% when compared with the stock’s closing price of RM1.35 on the open market.

Bloomberg data showed a total of 21.27 million shares or a 4.05% stake in YNH traded off-market today.

Besides Yu’s transaction, which was announced to the stock exchange today, two other tranches of 9.01 million and three million shares crossed, also at RM1.19 apiece, for RM10.72 million and RM3.57 million respectively.

However, parties involved in the two dealings are not immediately known.

Yesterday, Yu had reduced his stake in the property developer by 4.52% to 21.77%. He also owns an indirect stake of 6.59%.

On the open market, the counter saw a total of 385,000 shares done yesterday, for a market capitalisation of RM709.21 million. — theedgemarkets.com

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