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Raffles Medical’s chairman ups stake again

Samantha Chiew
Samantha Chiew • 1 min read
Raffles Medical’s chairman ups stake again
RMG's chairman continues share buying spree. Photo: Albert Chua/ The Edge Singapore
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Dr Loo Choon Yong, executive chairman and co-founder of Raffles Medical Group BSL -

(RMG) has on June 19 continued his buying spree of the company’s shares.

In the latest transaction, he purchased 500,000 shares at $1.01 per share. On June 18, he purchased the same amount at the same price.

In June thus far, Dr Loo has conducted share purchases 10 times.

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 54.64% or 1.014 billion shares in the company, up from 3.02% or 984.65 million shares in the company before his purchase on Feb 28.

See also: Wee family increases stake in UOL

In a previous interview with Dr Loo, he mentioned that the group has no intention to delist or privatise, as it is still enjoying the listing status to expand its presence and raise funds for its expansions.

Shares in RMG closed at $1.00. 

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