Mondrian Investment Partners, the second-largest shareholder of Sheng Siong Group, has cut its stake in the supermarket chain. In a Singapore Exchange filing dated Oct 30, the London-based fund manager sold 885,100 Sheng Siong shares on the open market, collecting proceeds of just over $1.45 million. This works out to an average selling price of $1.63 per share.

However, Mondrian remains a substantial shareholder. It still holds nearly 90.18 million shares, equivalent to a stake of 5.998%, down slightly from 6.057% earlier. The Lim family, with nearly 50% stake, remains the controlling and largest shareholders of the company.

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