Prior to Oei’s transaction, shares in Raffles Education were hovering around the 11-cent mark.
Oei Hong Leong, a substantial shareholder in Raffles Education, has increased his stake in the company to 13.05% from 12.9% previously.
According to an SGX filing dated September 9, Oei bought two million shares from the market for $284,594, or 14.23 cents per share on September 8.
