Several billionaire families were in the market in recent weeks, buying up some shares just as market sentiment was unsettled over the emergence of a new variant of the Sars-CoV-2 virus.
The Wee family that controls UOL Group were among those that added to their stake. The buying was done via their privately held entity Wee Investments, which is the single largest shareholder of the property and hospital firm.
On Dec 2 and 3, Wee Investments acquired 357,200 shares for $6.99427 each and130,400 shares at $6.99917 each respectively. Before these two days, the Wees had acquired 2.1 million shares for $6.87753 each on Nov 30 and another 200,000 shares at $6.94647 each on Dec 1. The transaction brings the total direct stake held by Wee Investments to 127.5 million shares or 15.098% from 15.04% prior to Dec 2.