DBS Bank has sold 29.4 million shares in Hoe Leong Corporation H20 for $58,894 or 0.2 cents per share.
The transaction took place on July 30, leaving DBS with a 4.99% stake in the company, down from 5.18% previously.
The bank last pared its stake in Hoe Leong on April 11, when it sold 32.6 million shares via the market for $ 65,295 or 0.2 cents apiece as well. At the time, DBS’s stake was lowered to 5.82% from 6.04% before.
For the FY2023 ended Dec 31, 2023, Hoe Leong reported earnings of $250,000, 68.6% lower than the earnings of $795,000. During the 2HFY2023, the company’s earnings stood at $970,000, 19.8% lower than the earnings of $1.2 million for the 2HFY2022.
Shares in Hoe Leong closed 0.1 cent higher or 100% up at 0.2 cents on Aug 2.
