KUALA LUMPUR: The Employees Provident Fund (EPF) continues to capitalise on the arbitrage opportunity between the current market price of Lingkaran Trans Kota Holdings Bhd (Litrak) shares and the RM5.08 a share return on the winding-up plan the company’s board has proposed to undertake. The shares traded between a range of RM4.80 and RM4.75 before closing at RM4.75 on June 22. Litrak shares closed up one sen to RM4.78 yesterday, which is at a 30-sen discount or 6.28% to the RM5.08 offer price. Another trader with a local brokerage said the price action in Litrak shares was similar to what transpired in the privatisation of MMC Corp Bhd last year. MIDF Research has maintained a “buy” recommendation for Litrak with an unchanged target price of RM5.08.
