Kentz falls most in eight months after sales of shares

Kentz Corp, the Clonmel-headquartered oil and gas engineering company whose clients include Exxon Mobil, fell the most in eight months in London trading after two directors agreed to sell shares.

Kentz dropped as much as 9.9% during London trading to 426.1 pence, the biggest intra-day decline since Aug 4. Despite a late uptick, shares closed at £4.38, still down more than 7%.

Kerbet Ltd, which holds Kentz shares for non-executive directors Tan Sri Mohd Razali Abdul Rahman and Hassan Abas, yesterday sold 15 million shares, or 12.89% of Kentz’s capital, “via an accelerated bookbuild secondary placing”, Kentz said yesterday.