Insider Moves: IOI Properties Group Bhd
Source: The Edge Markets
FOR the week ended Dec 22, notable filings on shareholding changes include plantation tycoon Tan Sri Lee Shin Cheng’s accumulation of more shares in IOI Properties Group Bhd.
A Dec 18 filing with Bursa Malaysia shows that Lee, the founder and controlling shareholder of IOI Properties, bought 32.5 million shares on Dec 14 and 15 at RM1.954 apiece directly. Between Dec 18 and Dec 20, he bought 49.8 million shares at RM1.80 to RM1.93 apiece, according to the latest filing dated Dec 21.
The purchases increased the tycoon’s direct stake to 2.39%. He holds an indirect stake of 60.78% in the property group, which also has a presence in Singapore.