Lee Sui Hee, a substantial shareholder in Tritech Group, accumulated more shares in the company on April 11.
According to an SGX filing dated April 15, Lee accumulated 8 million more shares for $256,000, or 3.2 cents per share via market transaction.
The purchase has brought Lee’s stake in Tritech to 8.11%, from 7.32% previously.
The date of notification to the listed issuer was on April 13.
Tritech, on April 12, received a query from Singapore Exchange Regulation (SGX RegCo), as its shares surged 11.76% to close at 3.8 cents.
Tritech was also the second most heavily traded counter on the SGX with nearly 110 million shares changed hands, behind Sembcorp Marine’s (SembMarine) 174.8 million shares.
The company had announced, on March 25, that it intends to raise up to $33.8 million from a group of new investors who will take up nearly 742.2 million shares at 3 cents apiece for the first tranche and 5 cents each for the subsequent tranche.
Shares in Tritech closed at a 52-week high of 3.9 cents on April 14, up 0.3 cent or 8.33%. It was the fourth-most active counter, with some 57.2 million shares transacted.
