HARTA (5168) HARTALEGA HOLDINGS BHD chairman buys 300,000 shares for RM3.37m
Hartalega Holdings Bhd chairman Kuan Kam Hon signalled his faith in his company with the direct purchase of 300,000 shares from the open market last Friday.
KUALA LUMPUR: Hartalega Holdings Bhd chairman Kuan Kam Hon signalled his faith in his company with the direct purchase of 300,000 shares from the open market last Friday.
A filing with Bursa Malaysia on Monday showed he purchased the shares at RM11.25 or for a total of RM3.37mil.
After the purchase of the shares, his direct stake in the nitrile glove maker increased to 26.56 million shares or 0.77%.
He also has an indirect or is deemed interest in 1.65 billion shares or 48.32%.
At the midday break on Monday, Hartalega’s share price was down by 38 sen to RM12.12.
In the morning session, there were 11.55 million shares traded at prices ranging from RM11.60 to RM12.84.
Kenanga Investment Bank Research is retaining its outperform calls on the top four glove makers – Top Glove, Hartalega, Kossan and Supermax -- as fundamentally, they offer plenty of upside.
In its strategy note on Monday, it retained its Outperform on Top Glove with a target price of RM8.50, Hartalega RM21, Kossan RM7.50 and Supermax RM9.05.
https://www.thestar.com.my/business/business-news/2021/01/11/hartalega-chairman-buys-300000-shares-for-rm337m
