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Kingsmen co-founder Ong raises stake; Japfa in buybacks ahead of subsidiary's planned IPO

The Edge Singapore
The Edge Singapore • 3 min read
Kingsmen co-founder Ong raises stake; Japfa in buybacks ahead of subsidiary's planned IPO
Ong, deputy chairman of Kingsmen Creatives, co-founded the company with chairman Benedict Soh back in 1976 / Photo: The Edge Singapore
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A fter a break of about 20 months, Simon Ong, deputy chairman of Kingsmen Creatives, has bought shares again.

On Nov 9, Ong, one of the two co-founders and controlling shareholders of the company, acquired 200,000 shares from the open market at 23.5 cents each. As he has a deemed stake of nearly 38 million shares, this gives him a total interest of just over 47 million shares, equivalent to 23.29%.

Ong last bought Kingsmen shares more than a year ago although this was via a married deal that also involves fellow co-founder cum chairman Benedict Soh. On March 2, 2021, Ong and Soh acquired 500,000 shares each for 24 cents per share. This brought the stakes of Soh and Ong to just over 47 million shares or 23.29% and 46.8 million shares or 23.19% respectively.

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