SINGAPORE (Feb 28): Dr Barry Thng Lip Mong, executive chairman of Alliance Healthcare, has raised his stake in the company with purchases from the open market. This is the first time he is doing so since the company went IPO back in May last year.

On Feb 18, he bought 10,000 shares for $2,050, or an average of 20.5 cents each. The following day, he spent $4,955.10 to buy 24,900 shares, or an average of 19.9 cents each. This compared to its IPO price of 20 cents.

With these two purchases, Thng now holds a direct stake of just below 7.43 million shares, which translates into a stake of 3.57%. However, he has a deemed interest in another entity called Alpine Investment Holdings, which controls the company with its stake of 64.19%. This means Thng now holds a total stake of nearly 141 million, or 67.8%.

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