PETALING JAYA: Ramssol Group Bhd’s shares were among Bursa Malaysia’s most actively traded stocks this morning after Top Glove Corp Bhd founder and executive chairman Lim Wee Chai emerged as one of its substantial shareholders.
The counter reached an intraday peak of 41 sen – the highest since Feb 23 – in the morning session, 15.5% up from its closing price of 35.5 sen yesterday.
The shares later pared their gains and retreated to 39 sen, 11.3% higher than yesterday’s close as at 2.40pm. Its market capitalisation stood at RM95.69 million.
Over 20.5 million of Ramssol’s shares have exchanged hands so far, making it the 13th-most actively traded counter on the local bourse.
The company’s shares gained strong attention this morning following news that Lim had emerged as one of its substantial shareholders.
Lim had acquired 14 million Ramssol shares, amounting to a 5.71% stake, via a direct business transaction on Aug 17 at an undisclosed price. This transaction effectively raised his equity to 7.46%, from 1.75% previously.
With Ramssol shares closing at 36 sen on Aug 17, the 14 million shares bought by Lim would have amounted to a cost of RM5.04 million.
Lim is now the third largest shareholder of Ramssol, after managing director and CEO Tan Chee Seng (30.32%) and non-independent non-executive director Lee Miew Lan (10.51%).
Ramssol provides solutions for human capital management. It posted a net profit of RM2.2 million in the second quarter of financial year 2023 (Q2 FY2023), up 78% from RM1.2 million in Q2 FY2022.