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BM Mobility chairman Koo raises stake as it rolls out electric bicycle venture

Chan Chao Peh
Chan Chao Peh9/17/2018 07:30 AM GMT+08  • 3 min read
BM Mobility chairman Koo raises stake as it rolls out electric bicycle venture
SINGAPORE (Sept 17): Simon Koo Ah Seang, chairman of BM Mobility, has been nibbling at the company’s shares on the market. Most recently, he purchased 1.004 million shares at an average of 1.1 cents each on Sept 12. Since the beginning of September, Koo
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SINGAPORE (Sept 17): Simon Koo Ah Seang, chairman of BM Mobility, has been nibbling at the company’s shares on the market. Most recently, he purchased 1.004 million shares at an average of 1.1 cents each on Sept 12. Since the beginning of September, Koo has made five other purchases. He now owns 14.08% of the company.

On Sept 1, BM Mobility, previously known as Ziwo Holdings, announced the sale of two China-based subsidiaries that are in its legacy business of producing raw materials for fabrics. Upon completion of the sale, BM Mobility would be able to recognise a gain of RMB60 million ($12 million). According to the company, the sale of these subsidiaries will help BM Mobility sharpen its focus in its new growth area of electric bicycle sharing.

Zhihe (Fujian) Technology Co produces synthetic yarns and fabrics used for making consumer lifestyle products, furniture upholstery and car interior linings. Ziwo (Fujian) Import & Export Trading Co is a trader of foamed materials, textiles, sports accessories, garments and footwear.

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