HK tycoon picks up 21.5% stake in Cordlife

Singapore

CORDLIFE Group's biggest shareholder, China Construction Bank Corp, has sold most of its deemed interest to a Chinese tycoon, according to two regulatory filings on Friday.

Hon Kwok Lung and his wife, Lam Suk Ying, acquired a 21.5 per cent stake in the mainboard-listed cord blood banker on Wednesday through two investment vehicles, for nearly S$24.6 million. They did not own Cordlife shares previously.