Two of the co-founders of Soup Holdings, which operates the chain of Soup Restaurants, have traded a substantial block of shares between themselves.
According to SGX filings on April 11, Mok Yip Peng has on April 9 sold just over 15 million shares to his classmate-turned business partner Wong Wei Teck for $900,504, or 6 cents each.
Even though Mok has retired as managing director and from the board back in 2016, he has remained as the single largest shareholder.
Following the April 9 married deal, Mok's stake has been trimmed to 51 million shares, or 18.26%.
Wong, who is the joint managing director, has increased his stake from 14.85% to 20.23%, or 56.5 million shares.
The following day, April 10, another substantial stake of more than 25 million shares changed hands via two trades, also at 6 cents each.
See also: Frencken's Au trims stake with 70,000 shares sold at $2.15 each
The company's other substantial shareholder is the other joint managing director and founder Wong Chi Keong, who, according to the company's most recent annual report, held nearly 49.1 million shares, or 17.57% as of March 25 2025.
This suggests that further married deals have been cut for the typically thinly traded counter.
A total of 26.6 million shares were traded on April 10.
Soup Holdings shares closed at 6.6 cents, down 17.5% year to date.
