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Oxley Holdings raises UE stake to 16%

OXLEY Holdings has raised its stake in United Engineers (UE) from 15.94 to 16 per cent, acquiring some 381,700 shares via market transaction for S$984,228.72 on Feb 28.

On Dec 6, 2017, Oxley had acquired S$1.2 million worth of shares, bringing its stake in UE that time to 15.02 per cent.

Oxley Holding's chief executive, Chiat Kwong Ching, is now deemed to have an interest in 16 per cent of UE shares following the transaction, with deputy CEO Low See Ching holding an additional 1.02 per cent direct interest.

UE's shares closed flat on Friday at S$2.56 apiece.