Oxley pares stake in UE to below 10%

Singapore

OXLEY Holdings has pared its stake in United Engineers (UE) to below 10 per cent after selling some 62 million shares, representing a 9.73 per cent interest, in the open market.

The bulk of the shares were scooped up by Chinese real estate player Yanlord Land Group, whose general offer for UE turned unconditional after it crossed the 50 per cent threshold last Friday.