EPF has lent out Kossan Rubber shares for regulated short selling since mid-June
KUALA LUMPUR (July 16): The Employees Provident Fund (EPF) has lent 3.07 million shares in Kossan Rubber Industries Bhd, equivalent to a 0.12% stake, over the past month since June 17.
Month to date, Bursa Malaysia’s data showed that there was a total of 4.06 million Kossan shares sold via regulated short selling.
According to bourse filings by the glove maker, these transactions were classified as ‘Disposed (SBL)’ by Citigroup Nominees (Tempatan) Sdn Bhd.
SBL stands for securities borrowing and lending, which means that EPF is lending out its Kossan shares for a fee to investors who intend to short the stock.
In total, there were 10 SBL disposals since June 17, with sizes ranging from 125,000 to 1.95 million shares, up to July 9. There was one SBL acquisition on July 6 of a block of 1.8 million shares.
In July, a total of 595,000 shares were lent out.
As at July 9, EPF’s stake in Kossan stood at 224.74 million shares or 8.81%, making it the second largest shareholder after the major shareholder Kossan Holdings (M) Sdn Bhd holding 47.06% stake.
Today, Kossan Rubber gained four sen or 1.2% at RM3.32, giving it a market capitalisation of RM8.57 billion. It hit a one-year low of RM2.98 on July 12. Year to date, its share price has fallen 25%.