Frontken stock sold at 18.8 sen per share in off-market transaction

PETALING JAYA: An off-market transaction of 290.99 million shares, or 27.6% of Frontken Corp Bhd, was crossed yesterday at a price of 18.8 sen, with sources saying that the party which took up the shares was someone related to its single largest shareholder and director, Dr Jorg Helmut Hohnloser.

At the price of 18.8 sen, it was a 31.5% or 8.7-sen discount to Frontken’s closing price of 27.6 sen yesterday.