Zhong Sheng Jian, executive chairman and CEO of developer Yanlord Land Group, snapped up nearly 7 million shares over three days last week, spending a total of nearly $8.2 million. That works out to an average price of around $1.17 per share.

On Aug 17, Zhong acquired 3.27 million shares for nearly $3.8 million; the following day he acquired another 1.78 million shares for nearly $2.1 million. On Aug 19, he yet again acquired 1.93 million shares for $2.29 million.

With that, his direct stake is up from 5.006% to 5.368%. In addition, Zhong has a deemed interest in another 1.28 billion shares. This gives Zhong a total interest of more than 1.38 billion shares or 71.553% of the company.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook