KUALA LUMPUR (Sept 19): A total of 21.53 million or 7.9% of Chin Well Holdings Bhd’s shares were traded off market just about an hour before the midday break on Friday, with the shares being valued at RM1.40 apiece, or RM30.14 million, Bloomberg data showed.

The share sale, which occurred between 11:37 am and 11:38 am, were divided into two blocks. One amounted to 13.35 million shares while the other had 8.18 million shares.

Although it is unknown who the buyer and the seller were, Chin Well’s latest annual report for the financial year ended Jun 30, 2013 (FY13) showed that as at Oct 31, 2013, only four of its shareholders had amount of shareholding greater than either of the block of shares traded off market today.

These shareholders are: Benua Handal Sdn Bhd, which is controlled by Chin Well’s managing director and cofounder Tsai Yung Chuan (with a 48.35% stake), Honour Symbol Sdn Bhd (4.9%), Maya Hebat Sdn Bhd (4.83%) and Lembaga Tabung Haji (4.49%).

Interestingly, Honour Symbol’s shareholding was similar to the amount of the first block of shares traded off market today, at 13.35 million.

The price per share of the manufacturer of nuts and bolts traded off market this morning represented a 9.68% discount to yesterday’s closing price of RM1.55 on the open market. As at midday break, Chin Well’s counter was traded three sen higher at RM1.58 with 273,700 shares done. It had a trading range of RM1.53 and RM1.60.

Chin Well shares have been charting new highs for the past two months, gaining 11.27% since Aug 15’s close of RM1.42. However, the stock cooled from its all-time high of RM1.65 on Aug 28.