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Raffles Education CEO to sell 1 million shares when trading resumes

Mr Chew Hua Seng, founder of the Raffles Education Corporation.

RAFFLES Education Corporation said on Thursday that its chairman and chief executive officer, Chew Hua Seng, would be selling one million of the education company shares when trading resumes at 1.30pm.

After the sale, Mr Chew and his wife, Doris Chung Gim Lian, will collectively hold 356.08 million Raffles Education shares, representing a 36.57 per cent stake.

Raffles Education shares have been suspended from trading since October, pending an application by Mr Chew with the Securities Industry Council with regard to his shareholding in the company.

As the consultations have been concluded, trading of the shares will resume at 1.30pm.