Hot stock: Raffles Education tumbles 8.6 per cent as CEO offloads to meet SIC terms
SHARES of Raffles Education Corporation fell 8.6 per cent, or 2.5 cents, to S$0.265 each at 1:32 pm when trading resumed on Thursday.
Trading resumed at 1.30 pm after its chairman and chief executive officer, Chew Hua Seng, said he would be selling one million of the education company shares.
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone