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Revenue Group sees 4.31% stake traded off market at 12% discount

TheEdge Thu, Jul 11, 2019 - 1 week ago


KUALA LUMPUR (July 11): Revenue Group Bhd saw 10 million shares cross off-market today. The block of shares represents a 4.31% stake in the company.

According to Bloomberg data tracking trade of 300,000 shares or more, the shares were transacted in two blocks, worth a total of RM14.9 million.

The transactions were carried out at RM1.49 a share, a discount of 11.8% of today’s closing price. It is not immediately known as to whom the parties involved in the transaction are.

Notably, the stock has surged more than four times from its initial public offering (IPO) price of 37 sen in July last year. This brings its market capitalisation to RM392.08 million.

Revenue’s net profit leaped 40.4% to RM2.54 million in the third quarter ended March 31, 2019, from RM1.81 million last year due to higher revenue thanks to higher sales of electronic data capture (EDC) terminals.

Its quarterly revenue nearly doubled to RM15.52 million from RM7.94 million a year ago.

For the cumulative nine months of financial year ended June 2019 (FY19), its net profit climbed 33.75% to RM6.85 million versus RM5.12 million in the previous year, as revenue grew 88.3% to RM43.94 million against RM23.34 million last year.








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