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Sing Investments' Lee family buys S$2.4m of shares at S$1.53 apiece
THE controlling family of Sing Investments & Finance bought S$2.4 million of the lender's shares at S$1.53 apiece on Wednesday, raising its stake by just under one percentage point.
The FH Lee Holdings - an investment vehicle for the family of Sing Investments managing director Lee Sze Leong, director Lee Sze Siong and Sing Holdings chief executive Lee Sze Hao - acquired the 1.55 million shares through a married deal on Wednesday, according to a disclosure filing during the Singapore Exchange's midday break.
The purchase price was a 1.9 per cent discount to the stock's opening price of S$1.56 on Wednesday. As at 1.24pm, Sing Investments was trading at S$1.55, down 1.3 per cent or two Singapore cents on the day.
The Lees now have a combined stake of just under 29.1 per cent, which is still below the 30 per cent threshold that would trigger a mandatory general offer.
Mr Lee Sze Siong's direct and deemed stake now stands at 29.044 per cent; Mr Lee Sze Hao's at 29.04 per cent; and Mr Lee Sze Leong's at 29.002 per cent.