Singapore tycoon Oei Hong Leong has bought another 3.7 million ordinary shares from the market for $739,815, pricing each share in Raffles Education at 20.0 cents.
The transaction, which took place on September 10, increased Oei’s stake in the company to 13.4% from 13.14% previously.
Oei previously purchased two million shares for $284,594 from the market on September 8.
On September 1, Oei sent in a requisition notice for Raffles Education to hold an extraordinary general meeting (EGM) with a list of resolutions for shareholders to vote upon, including the removal of chairman and CEO Chew Hua Seng.
Units in Raffles Education closed 1.6 cents lower, or 8.4% down, at 17.4 on September 11.
See also:
- Oei Hong Leong increases stake in Raffles Education, causes share price to rise by over 20%
- Raffles Education draws SGX query on share price surge
- Raffles Education CEO Chew Hua Seng refutes CAD claims by Oei Hong Leong
- Oei Hong Leong wants to oust Chew Hua Seng again
- Disappointment descends on IPC, Raffles Education
- Raffles Education convenes Nov 29 EGM to vote on Oei’s resolutions
- Oei Hong Leong calls for EGM at Raffles Education to oust chairman Chew Hua Seng
