Hotel Properties’ managing director, Ong Beng Seng, has acquired 1.2 million shares in the company for $4.3 million or $3.58 per share via an off-market transaction on Mar 4.
Following the transaction, Ong’s total stake increased to 60.45% from 60.22% previously. Ong last purchased 150,000 shares in the company for $537,000 on Jan 8, which increased his stake to 60.22% at that time.
Ong’s deemed interest in 207.7 million shares in the company after the transactions are 179.02 million shares held by 68 Holdings, 23.5 million shares held by his spouse Christina Ong, 2.95 million shares held by Comojo Holdings and 2.25 million shares held by Reef Holdings.
Cuscaden Partners holds a controlling interest in 68H, and Ong holds a controlling interest in Cuscaden.
Shares in Hotel Properties closed 1 cent higher or 0.279% up at $3.60 on Mar 4.
