Following the purchase, Lee will hold a direct stake of 148 million shares, or 4.19% of the company’s total share capital, from 0.75% previously.
Lee’s purchase will value Marco Polo Marine at $106.2 million.
Including the Lee family’s interest held through Nautical International Holdings, the family will become the largest shareholder of Marco Polo Marine with a total shareholding of 19.7%, upon the completion of the transaction.
Shares in Marco Polo Marine closed 0.1 cent higher or 3.03% up at 3.4 cents on Aug 23.
