Hong Leong Capital

Hong Leong Capital

Postby winston » Sat Aug 30, 2014 7:03 am

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Dr Yu’s Hong Leong Cap selldown brings RM72mil in proceeds

BY WONG WEI-SHEN

Yu first emerged as a substantial shareholder in HLCap in February 2013 with a 5.94% stake or 14.672 million shares, essentially preventing founder Tan Sri Quek Leng Chan from taking the company private via his flagship Hong Leong Financial Group Bhd (HLFG) for RM1.71 per share.

Yu continued to accumulate shares in HLCap till it reached 22.191 million shares on March 4, taking his stake to 8.988%.

PETALING JAYA: Datuk Dr Yu Kuan Chon’s recent sell down of shares in Hong Leong Capital Bhd (HLCap) has so far brought him RM72.22mil in proceeds, and reduced his stake in the company to 4.774%.

From Aug 21 till Wednesday, Yu sold 6.04 million HLCap shares in the open market at prices ranging from RM12 to RM13 per share.

StarBiz earlier reported that Yu disposed of 2.57 million shares between Aug 15 and 19, representing 1.04% of his shareholding in the company.

Yu has been paring down his stake ahead of the Aug 31 deadline given by Bursa Malaysia for HLCap to maintain a minimum 25% public shareholding spread requirement.

Should HLCap fail to comply with the requirement, Bursa “may exercise its discretion to impose trading suspension of HLCap shares” and it would give a notice of five market days.

Yu first emerged as a substantial shareholder in HLCap in February 2013 with a 5.94% stake or 14.672 million shares, essentially preventing founder Tan Sri Quek Leng Chan from taking the company private via his flagship Hong Leong Financial Group Bhd (HLFG) for RM1.71 per share.

Yu continued to accumulate shares in HLCap till it reached 22.191 million shares on March 4, taking his stake to 8.988%.

Quek also bought up more HLCap shares to make a case for his bid, but only managed to accumulate up to 200.81 million shares, equating to a 81.33% stake.

HLCap had announced on March 1, 2013 that it shares would be suspended on April 15, 2013 after it failed to meet the 10% free float requirement.

Filings with Bursa Malaysia showed that Yu made his first disposal of 60,000 shares on Feb 26, 2013. He continued to sell down his stake in HLCap to 8.646% as at March 14, 2013.

Source: The Star
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Re: Hong Leong Capital

Postby winston » Sat Aug 30, 2014 7:06 am

Dr Yu: ‘I’m a long-term investor in HLCap’

BY GURMEET KAUR

http://www.thestar.com.my/Business/Busi ... -in-HLCap/
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Re: Hong Leong Capital

Postby winston » Thu Sep 04, 2014 5:08 am

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Hong Leong Capital gets 3 more months to meet public spread

KUALA LUMPUR: Hong Leong Capital Bhd has been given another three months until Nov 30, to to comply with the 25% public shareholding spread.

The investment bank said the extension was given by Bursa Securities Malaysia on Wednesday.

“The public shareholding spread of the company as at Aug 29, 2014 was 18.67%,” it said.

It also said it had not identified a satisfactory plan to address the non-compliance with the 25% public shareholding spread.

StarBiz reported on Aug 28 that Datuk Dr Yu Kuan Chon, who had in 2013, blocked a bid by Tan Sri Quek Leng Chan to privatise HLCap, had reduced his stake to 4.77% or 11.78 million shares to avert a trading suspension by the Aug 31 deadline.

Source: The Star
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Re: Hong Leong Capital

Postby winston » Wed Nov 26, 2014 6:47 am

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Bursa Securities cautions investors over Hong Leong Capital

KUALA LUMPUR: Bursa Malaysia Securities has cautioned investors over trading in Hong Leong Capital shares as the company has not identified a satisfactory plan to address the 25% public shareholding spread requirement.

The regulator said on Tuesday the company had until Sunday to comply – this was after a further extension of three months vide its letter dated Sept 3.

Bursa Securities said Hong Leong Capital does not meet the requirement under the Listing Requirements where a listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders.

“The public shareholding spread of the company as at Nov 5, 2014 was 18.67%,” it said. “Investors are advised to trade with caution in the counter,” it added.

Source: The Star
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Re: Hong Leong Capital

Postby winston » Thu Mar 26, 2015 6:23 am

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Hong Leong Capital surges in late trade on eve of suspension

BY: JOSEPH CHIN

KUALA LUMPUR: Hong Leong Capital Bhd, which will be suspended from trading on Thursday for not meeting the public shareholding spread, saw very volatile trading.

It fell to a low of RM7.40 around 9.30am but late buying support around 4.30pm, saw it surging RM1.95 to close at RM10.20 – which was the highest since March 20.

There were 241,700 shares traded at prices ranging from RM7.40 to RM10.20.

The company faces a trading suspension for not meeting the mandatory public shareholding spread of 25%. As at the end of December 2014, its public shareholding spread was only 18.67%.

It is the holding company of Hong Leong Investment Bank Bhd and Hong Leong Asset Management Bhd.

Hong Leong Capital’s public shareholding spread has become an issue ever since Hong Leong Financial Group Bhd (HLFG) launched an unconditional takeover of the company back in January 2013 at RM1.71 per share.

The general offer was unsuccessful and at the close, HLFG, a company under the control of Tan Sri Quek Leng Chan, had garnered just another 2.2% stake, taking its shareholding in Hong Leong Capital to 81.3%.

Based on the last trading price of RM10.20, this was 4.03 times the net asset per share of RM2.53 as at Dec 31, 2014.

Source: The Star
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Re: Hong Leong Capital

Postby winston » Fri Nov 13, 2020 2:53 pm

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Hong Leong Capital opens 27 sen down at RM8.88, share trade resumes after suspension since March 2015

by Chong Jin Hun

KUALA LUMPUR (Nov 13): Hong Leong Capital Bhd (HLCAP) shares opened down 27 sen or 2.95% at RM8.88 today — the financial services company’s first day of trading since a suspension on March 26, 2015.

HLCAP’s share trade resumed today after major shareholder Hong Leong Financial Group Bhd (HLFG) completed a private placement of 27 million existing shares in HLCAP to increase the public shareholding spread of HLCAP to 29.6%.

On Bursa Malaysia today, HLCAP fell 35 sen to RM8.80 at 9:01am.

HLCAP saw some 260,000 shares traded. At RM8.80, HLCAP has a market capitalisation of about RM2.17 billion based on the company’s 246.9 million issued shares.

According to HLCAP's Bursa filings this week, HLCAP major shareholder HLFG has completed a private placement of 27 million existing shares in HLCAP to increase the public shareholding spread of HLCAP to 29.6% as at Monday (Nov 9).

"Accordingly, the trading in HLCAP's shares will resume with effect from 9.00am, Friday, Nov 13, 2020,” HLCAP said.

HLCAP informed on Wednesday (Nov 11) that its principal officer Lee Jim Leng had given notice of her dealing in shares of HLCAP.

Lee had on Monday (Nov 9) acquired 250,000 HLCAP shares via private placement at RM4.80 each, HLCAP said.

HLCAP said the 250,000 shares represent a 0.101% stake in HLCAP.

HLCAP’s Bursa filings in February and March 2015 indicate that the trading suspension in the securities of HLCAP started on March 26, 2015 as HLCAP did not meet Bursa’s listing requirement that a listed issuer must ensure at least 25% of its total listed shares, excluding treasury shares, are in the hands of public shareholders.

The public shareholding spread of HLCAP as at Dec 31, 2014 was 18.67%, according to HLCAP.

"As announced by the company on Feb 12, 2015, Bursa had written to inform the company that Bursa had decided to impose a suspension on the trading of HLCAP's securities with effect from March 3, 2015 for not meeting the required public shareholding spread unless the company submitted an appeal to Bursa Securities on or before Feb 23, 2015.

"As stated in an announcement dated Feb 23, 2015, the company had written to Bursa to appeal against Bursa’s decision to impose a suspension on the trading of HLCAP’s securities. As such, the suspension of HLCAP’s securities on March 3, 2015 has been deferred pending the decision on HLCAP’s appeal by Bursa.

"After due deliberation and having considered all the facts and circumstances of the matter including HLCAP’s written representations, the appeals committee has decided to dismiss the appeal of HLCAP and uphold the decision of the listing committee that a suspension be imposed on the trading of HLCAP’s shares for the breach of paragraph 8.02(1) of the Bursa Main Market Listing Requirements.

"In the circumstances, the trading in the securities of HLCAP will be suspended with effect from March 26, 2015,” HLCAP said then.

Source: The Edge

https://www.theedgemarkets.com/node/541167
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