STOCK SAHAM.CO

EP Manufacturing sees 4.55% stake traded off-market

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KUALA LUMPUR: EP Manufacturing Bhd saw 4.55% of its shares traded off-market on Thursday (Nov 10).

According to Bloomberg, 10.03 million of the auto parts maker’s shares were traded in two tranches at RM1 per share. The transacted price represents a 4.76% discount over the stock’s closing price of RM1.05.

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

According to its 2021 annual report and based on latest bourse filings, substantial shareholders of EP Manufacturing include its executive chairman Hamidon Abdullah and Mutual Concept Sdn Bhd.

The filings dated Oct 6 show that Hamidon has 4.14% direct stake and 25.24% indirect stake in the company, while Mutual Concept holds a 23.66% direct shareholding in EP Manufacturing.

The share transactions happened days after it was in talks with Petronas Dagangan Bhd and Blueshark Holding Ltd (BHL) to possibly collaborate in the electric mobility space in Malaysia.

On Monday (Nov 7), EP Manufacturing’s wholly-owned EP Blueshark Sdn Bhd (EPBSB) inked a one-year Memorandum of Understanding with PetDag and BHL to engage in the discussions for the mutual benefit of the parties.

The MOU is to set out the main principles of the collaboration, which is to develop a two-wheeler battery swapping business, if it is found feasible.

EP Manufacturing’s share price gained two sen at RM1.05, bringing the group a market capitalisation of RM231.3 million.

Source : The Edge Markets

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