KUALA LUMPUR: Oil and gas services company Sapura Energy Bhd saw 88.50 million of its shares traded off-market on Thursday.

Stock market data showed the block of shares, accounting for a 1.47% stake, was traded at an average price of RM1.42.

This was six sen below Wednesday's closing price of RM1.48.

StarBiz had recently reported that Sapura Energy's  second-largest shareholder Tan Sri Mokhzani Mahathir, who controls a 10.1% stake or 605 million shares, was relinquishing his entire stake.

Mokhzani was relinquishing his entire stake that he held through Khasera Baru Sdn Bhd in the form of a private placement. 
Recall that Mokhzani had in 2014 divested a block of 190.3 million shares in the company, which was then known as SapuraKencana Petroleum Bhd.

Those shares were sold at RM4.30 apiece, netting about RM820mil in total.

Since then, Mokhzani has held on to his balance 10.1% stake in the company until this exercise.

StarBiz also reported that two-thirds of the deal were allocated to “government long-only and multi-strategy funds”. A third of the shares went to a domestic asset manager, of which the top-five accounts were allocated around 70% of the deal.