2% of DutaLand shares crossed off-market for RM8.6 mil

KUALA LUMPUR (Jan 21): DutaLand Bhd (fundamental: 1.25; valuation: 0.9) saw 16.86 million of its shares, representing a 2% stake in the company, traded off-market today for RM8.6 million.

According to Bloomberg data, the shares were moved in a single transaction and was priced at 51 sen apiece.

It is not immediately known, however, who the parties involved in the transaction were.

DutaLand is mainly involved in oil palm plantations, property development and property investments.

The company’s largest shareholders are Kenny Height Developments Sdn Bhd, with a 28.23% direct stake; followed by Duta Equities Sdn Bhd (12.22%), Seni Kasuari Sdn Bhd (10.2%) and Pacific Element Sdn Bhd (6.16%).

The stock was trading at a low of 45 sen on Jan 27 last year. It hit a high of 79.5 sen on Sept 30, before plunging back to 45 sen on Dec 15 last year.