Foreland Fabrictech chairman sells 29.5 % stake

Singapore

THE executive chairman of Singapore-listed Foreland Fabrictech Holdings has slashed his direct stake in the company to just 11.03 per cent, after selling a 29.5 per cent share for S$1 million. This works out to 0.62 of a Singapore cent per share.

The off-market transaction by Tsoi Kin Chit took place on June 18. Filings with the Singapore Exchange on Sunday night also show that on the same day, Huang Wen acquired a deemed interest of 29.5 per cent in the Fujian-based company at the same price.