IMASPRO (7222) - Imaspro surges to RM1.95 as YNH’s Yu ups stake
IMASPRO 益马机构 7222 IMASPRO CORPORATION BHD
Wednesday, 25 March 2015
KUALA LUMPUR: Imaspro Corp Bhd rallied to a high of RM1.95 on Wednesday on reports low-profile property developer Datuk Dr Yu Kuan Chon of YNH Holdings Bhd has been accumulating shares in the company.
At 11am, Imaspro was up 23 sen to RM1.82. There were 8.27 million shares done at prices ranging from RM1.70 to RM1.95.
The FBM KLCI was up 8.76 points ot 0.48% to 1,822.80. Turnover was 700.44 million shares valued at RM501.19mil. There were 319 gainers, 247 losers and 295 counters unchanged.
StarBiz reported Dr Yu, who has carved a name for himself in taking up strategic stakes in little-known companies, is once again on the prowl and Imaspro is said to be his latest target.
It is learnt that Dr Yu, whose flasgship company is YNH Holdings, has already started accumulating minority stakes in the company and is looking at acquiring more interest in the company from some shareholders who are exiting.
Among the shareholders who have been reducing their interest in Imaspro include its non-executive chairman Mohd Shafek Isa. Filings with Bursa Malaysia show that Shafek has been steadily disposing of his shares since early March. From a 21.49% stake on March 4, he now has a 10.28% stake or 8.22 million shares in the company via his vehicle Sunbina Dunia Sdn Bhd.
Shafek has been selling the shares in tranches, in prices ranging from RM1.30 to RM1.50.
Dr Yu made his mark in the corporate scene where he emerged as the second largest shareholder in investment bank – Hong Leong Capital Bhd (HLCap) – that was a subject of privatisation by its parent company, Hong Leong Financial Group Bhd (HLFG) at RM1.71 per share. HLFG failed to get the required shares for it to take HLCap private because Dr Yu had accumulated close to 8.96% of the investment bank.
http://www.thestar.com.my
IMASPRO 益马机构 7222 IMASPRO CORPORATION BHD
Wednesday, 25 March 2015
KUALA LUMPUR: Imaspro Corp Bhd rallied to a high of RM1.95 on Wednesday on reports low-profile property developer Datuk Dr Yu Kuan Chon of YNH Holdings Bhd has been accumulating shares in the company.
At 11am, Imaspro was up 23 sen to RM1.82. There were 8.27 million shares done at prices ranging from RM1.70 to RM1.95.
The FBM KLCI was up 8.76 points ot 0.48% to 1,822.80. Turnover was 700.44 million shares valued at RM501.19mil. There were 319 gainers, 247 losers and 295 counters unchanged.
StarBiz reported Dr Yu, who has carved a name for himself in taking up strategic stakes in little-known companies, is once again on the prowl and Imaspro is said to be his latest target.
It is learnt that Dr Yu, whose flasgship company is YNH Holdings, has already started accumulating minority stakes in the company and is looking at acquiring more interest in the company from some shareholders who are exiting.
Among the shareholders who have been reducing their interest in Imaspro include its non-executive chairman Mohd Shafek Isa. Filings with Bursa Malaysia show that Shafek has been steadily disposing of his shares since early March. From a 21.49% stake on March 4, he now has a 10.28% stake or 8.22 million shares in the company via his vehicle Sunbina Dunia Sdn Bhd.
Shafek has been selling the shares in tranches, in prices ranging from RM1.30 to RM1.50.
Dr Yu made his mark in the corporate scene where he emerged as the second largest shareholder in investment bank – Hong Leong Capital Bhd (HLCap) – that was a subject of privatisation by its parent company, Hong Leong Financial Group Bhd (HLFG) at RM1.71 per share. HLFG failed to get the required shares for it to take HLCap private because Dr Yu had accumulated close to 8.96% of the investment bank.
http://www.thestar.com.my
