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Chip Eng Seng shareholders, including founder, sell 29.73% stake to SingHaiyi MD for S$201m
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Claudia Chong
Published Fri, Oct 5, 2018 · 09:50 PM
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Singapore
SEVEN of Chip Eng Seng's shareholders, including founder Lim Tiam Seng and executive deputy chairman Lim Tiang Chuan, are selling shares amounting to 29.73 per cent of the total issued shares of the company to Celine Tang, the managing director of SingHaiyi.
Chip Eng Seng said in an Exchange filing on Friday evening that the shareholders had entered into a sale and purchase agreement to sell an aggregate of 186,105,000 shares at S$1.08 per share, which works out to a total of S$200.9 million.
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