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Raffles Medical Group CEO Loo continues to increase stake in the company

Felicia Tan
Felicia Tan • 1 min read
Raffles Medical Group CEO Loo continues to increase stake in the company
Dr Loo Choon Yong, executive chairman and co-founder of Raffles Medical Group. Photo: Albert Chua/The Edge Singapore
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Dr Loo Choon Yong, executive chairman and co-founder of Raffles Medical Group BSL -

has been on a buying spree of the company’s shares.

On June 13, the company announced that Loo bought another 800,000 shares from the market for $816,000 or $1.02 per share. The purchase was made on June 12.

This brings Loo’s total share purchase to 29.05 million shares in 2024 alone, so far.

Loo began increasing his stake steadily since Feb 27, when he bought 3.5 million ordinary shares from the market for $3.60 million or $1.028 per share.

From Feb 27 to Feb 29, Loo bought 5.9 million shares. He subsequently continued to buy shares from the market almost daily in March and May. In March, Loo bought 9 million shares while he bought another 9.65 million shares in May.

Loo’s latest purchase brings his total stake (direct and deemed interest) in Raffles Medical Group to 54.58% or 1.01 billion shares in the company, up from 53.02% or 984.65 million shares in the company before his purchase on Feb 28.

See also: Wee family increases stake in UOL

Shares in Raffles Medical Group closed 1 cent lower or 0.99% down at $1 on June 13.

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