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Hotel Grand Central chairman maintains steady purchase of company’s shares

Chan Chao Peh
Chan Chao Peh10/15/2018 07:30 AM GMT+08  • 3 min read
Hotel Grand Central chairman maintains steady purchase of company’s shares
SINGAPORE (Oct 15): Tan Eng Teong, founder and chairman of hotel operator Hotel Grand Central, has been steadily buying its shares from the open market for over a year.
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SINGAPORE (Oct 15): Tan Eng Teong, founder and chairman of hotel operator Hotel Grand Central, has been steadily buying its shares from the open market for over a year.

The most recent purchase was made on Oct 9, where Tan added 69,900 shares at an average price of $1.36. He now has a deemed stake of nearly 394.7 million shares, equivalent to 54.32% of the company. Tan’s purchases were made via an entity called Tan Chee Hoe & Sons Holdings, which is used to hold the shares in Hotel Grand Central.

Tan’s brothers Teck Lin and Eng How also have a deemed interest in Tan Chee Hoe & Sons Holdings. All three brothers sit on the company’s board, as does Hwa Lian, Tan’s daughter.

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