Eddy Lee Yip Hang, executive chairman of iX Biopharma (SGX:42C
) , and his wife, Jane Tang Choy Leng, sold 13 million shares in the company on April 10 and April 13.
On April 10, Lee sold 10 million shares via married deal for a total consideration of $2.6 million. This translates to an average price of 26 cents each.
Interestingly, Lee on April 8 exercised his warrants and was allotted 10 million new ordinary shares at a price of 6 cents per warrant.
With the disposal, Lee has pocketed a profit of $2 million and lowered his shareholding interest in iX Biopharma down to 22.874%.
On April 13, Tang sold 3 million shares via market transaction for a total consideration of $1,047,750. This translates to an average price of 34.93 cents each.
As a result, this further lowered Lee’s shareholding interest in the company to 22.588%.
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Earlier today, iX Biopharma’s share price hit an intra-day high of 46 cents, which is equivalent to its IPO price back in July 2015.
Shares of iX Biopharma closed flat at 42.5 cents. For the past one year, its share price saw a gain of more than 2,000%.
