Loh and Han’s fund invested in Synagie before its listing back in 2018. According to its IPO prospectus, the duo had acquired 30.37 million shares for over $1.26 million, or 4.16 cents each.
A fund called Agate Investments has steadily been dumping its shares of e-commerce player Synagie Corporation. The fund is controlled by David Loh and Han Seng Juan, former star brokers at UOB KayHian where the duo was known as the “A-Team”.
The most recent sale was completed on Nov 11. A total of 7.3 million shares were sold for $1.45 million, or an average of 19.8 cents. With the sale, Agate is left with just below 9.78 million shares, equivalent to 3.2%, down from just over 17.1 million shares, or 5.59%. At below 5%, there is no more obligation for the shareholders to declare any new sales.
