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Oei’s stake in Raffles Education drops to 12.88% on placement despite acquisition of shares

PC Lee Published on Wed, Oct 11, 2017 / 7:18 AM GMT+8

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SINGAPORE (Oct 11): Raffles Education says Oei Hong Leong’s stake in the group has fallen to 12.88% from 14.04%.

This is despite his acquisition of 1,065,300 shares at $360,007.48 on Tuesday,

According to the filing, the shares were purchased via the placement of 95 million new shares as well as open market transactions, which apparently diluted Oei’s shareholdings.

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