KUALA LUMPUR (May 14): Hardly traded Stemlife Bhd ’s share price shot up as much as 8.64% to 44 sen today on news that a substantial shareholder has emerged in the stem cell banking company.
Stemlife (fundamental: 1.95; valuation: 0.9) share price closed at 42 sen, up 1.5 sen or 3.7%, with 2.95 million shares changing hands — the highest volume since the start of the year.
The company’s filing to Bursa Malaysia yesterday shows that Citigroup Global Markets Ltd bought a 6.42% stake, or 15.89 million shares, in Stemlife on the open market last Wednesday. And the shares are held under Citigroup Nominees (Asing) Sdn Bhd.
However, it is not known that whether the shares were bought by Citigroup’s proprietary funds or the transaction was done on behalf of its clients.
Singapore-listed Cordlife Group Ltd is its largest shareholder holding 31.82% stake, while Berjaya Corp Bhd owns a 10.62% stake in Stemlife.
Stemlife is a stem cell banking company in Malaysia which provides services to store umbilical cord blood-derived stem cells. It has a cryogenic storage and testing facility.
For the first quarter ended March 31, Stemlife posted net profit of RM210,000 compared with RM180,000 in the previous corresponding period. Revenue came in higher at RM4.26 million versus RM3.85 million a year ago.
STEMLFE (0137)
http://www.theedgemarkets.com
Stemlife (fundamental: 1.95; valuation: 0.9) share price closed at 42 sen, up 1.5 sen or 3.7%, with 2.95 million shares changing hands — the highest volume since the start of the year.
The company’s filing to Bursa Malaysia yesterday shows that Citigroup Global Markets Ltd bought a 6.42% stake, or 15.89 million shares, in Stemlife on the open market last Wednesday. And the shares are held under Citigroup Nominees (Asing) Sdn Bhd.
However, it is not known that whether the shares were bought by Citigroup’s proprietary funds or the transaction was done on behalf of its clients.
Singapore-listed Cordlife Group Ltd is its largest shareholder holding 31.82% stake, while Berjaya Corp Bhd owns a 10.62% stake in Stemlife.
Stemlife is a stem cell banking company in Malaysia which provides services to store umbilical cord blood-derived stem cells. It has a cryogenic storage and testing facility.
For the first quarter ended March 31, Stemlife posted net profit of RM210,000 compared with RM180,000 in the previous corresponding period. Revenue came in higher at RM4.26 million versus RM3.85 million a year ago.
STEMLFE (0137)
http://www.theedgemarkets.com