(Sept 18): Terence Tea, executive chairman and managing director of Accrelist, has been raising his stake in the company. From Sept 5 to 11, Tea purchased 2.5 million shares. This brings his direct interest in the company to 1.1 billion shares, or a 21.2% stake.
Tea has been buying shares since November 2016, when he owned just 993.8 million shares, or close to 19% of the company. Accrelist was formerly known as WE Holdings and has been a distributor and manufacturer representative for clients such as Sharp Electronics and Powerwave Technologies. The Catalist counter shifted its business focus to corporate accretion services, with a focus on education and financial technology, after an extraordinary general meeting in October 2016. Accrelist’s corporate accretion team will identify and analyse potential companies in which to invest. It will also help these companies grow their businesses by providing access to capital and advisory services.