KUALA LUMPUR: Sapura Energy Bhd
, whose shares have come under heavy selling pressure due to its recent quarterly losses, saw 131.53 million shares traded off-market on Friday.
Stock market data showed the shares, which represented a 2.19% stake, were traded at 84 sen each. This was 15.5 sen below Thursday's closing price of 96.5 sen.
At 4.19pm, Sapura Energy was at its all-time low of 82.5 sen, down 14 sen in very active trade.
The largest share is Sapura Holdings Sdn Bhd with 15.9% or 953 million shares followed by the Employees Provident Fund Board with 11.46 million shares or 686.60 million shares.
Skim Amanah Saham Bumiputera is the third largest with 6.81% or 408.02 million units and Kumpulan Wang Persaraan with 6.55% or 392.48 million shares.
AmInvestment Research is maintaining its Hold recommendation for Sapura Energy with a lower fair value of RM1 a share from an earlier RM1.54 a share by widening the discount to FY19F book value from 30% to 50%.
However, CIMB Equities Research sees value emerging in Sapura Energy after the sharp sell-off on Thursday after its 9MFY1/18 core net loss of RM186mil was almost four times higher than its previous loss forecast, while consensus had forecast a profit.
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