SINGAPORE (Apr 30): Simco, a private investment holding company, has raised its stake in work placement agency HRnetGroup by acquiring shares from the open market. Simco is owned by the Sim family which controls HRnetGroup. The owners include chairman Peter, his brother JS and Peter’s daughter Adeline who is also an executive director in HRnetGroup.

On April 17, Simco bought 200,400 shares at 48.5 cents each, increasing its stake to some 753.2 million shares, or 75.316%.

Recently, HRnetGroup has gone through a few rounds of share buybacks on the open market as well. The most active buybacks were made throughout March as well as early April.

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