Ho Bee Land’s founder and executive chairman, Chua Thian Poh, has been increasing his stake in the company via Ho Bee Holdings since May this year.
Since May 14, Chua has bought a total of 366,100 shares for a total of $652,763 or an average price of $1.783 per share.
Chua’s latest purchase took place on June 5 when Ho Bee Holdings acquired 137,900 shares for $248,220 or $1.80 per share via market transaction.
The purchase brought Chua’s total stake in the company to 75.682% from 75.66% previously. The deemed interest after the transaction comprises 500.06 million shares held directly by Ho Bee Holdings, 1.41 million shares held directly by Kingdom Investment Holdings and 1.067 million shares held directly by Chua’s spouse, Ng Noi Hinoy. Kingdom Investment Holdings is 96%-owned by Ho Bee Holdings. Chua owns a 82.5% stake in Ho Bee Holdings.
On June 4, Chua, via Ho Bee Holdings, purchased 54,100 shares via the market for $98,668 or $1.824 per share. That transaction brought Ho Bee Holdings’ stake in the company to 75.66% from 75.653%.
Chua’s stake before the purchases starting May 14 was at 75.6%.
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In April, Chua’s son, Nicholas Chua, bought a total of 158,000 shares via the market on two occasions. On April 17, the younger Chua, who is Ho Bee Land’s executive director and CEO, bought 45,000 shares at $1.78 apiece. He had bought 113,000 shares on April 15 at $1.77 per share.
Ng, who is also Nicholas’ mother, acquired 16,800 shares from the market at $1.78 apiece on April 4.
For the FY2024 ended Dec 31, 2024, Ho Bee Land reported earnings of $109.6 million, reversing from its loss of $259.8 million in FY2023. The higher bottomline was attributed to higher revenue and divestment gains during the year.
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The group’s net asset value (NAV) per share as at Dec 31, 2024, stood at $5.56.
Shares in Ho Bee Land closed 1 cent higher or 0.56% up at $1.80, or 1.64% down year to date.
