WCE Holdings sees 2.81% stake traded off-market

KUALA LUMPUR (Dec 18): Highway operator WCE Holdings Bhd saw a 2.81% stake traded in an off-market trade yesterday.

According to Bloomberg, some 33 million shares worth RM10.56 million or 32 sen per share, were traded in one block at 10am this morning.

The 32 sen per share price for the transaction represents a 8.57% discount over its yesterday’s closing price of 35 sen per share.

The identities of those who participated in the trade are currently unknown.

According to its annual report for the financial year ended March 31, 2019 (FY19), IJM Corp Bhd is the largest shareholder holding a 26.46% stake in WCE, followed by MWE Holdings Bhd controlling a 25.59% stake, and United Frontiers Holdings Ltd holding a 9.32% stake.

Share price of WCE increased 2.94% or one sen at 35 sen yesterday, giving it a market capitalisation of RM411.26 million. The counter saw 7.29 million shares exchanging hands.