Zhong Sheng Jian, chairman and CEO of China-based developer Yanlord Land Group, spent nearly $8.5 million over three days in March to snap up his company’s shares in the open market.

On March 18, he acquired nearly 2.8 million shares for $2,464,562; on March 19, he acquired another 2.99 million shares for $3,561,920 and on March 22, he acquired just below 2.1 million shares for $2,452,059. The daily average unit prices Zhong paid ranged between just below $1.19 to just below $1.20.

Zhong now holds a direct stake of just over 89.6 million shares, equivalent to 4.64%. In addition, he has an indirect interest of nearly 1.28 billion shares, or 66.185%. In total, he now controls nearly 1.37 billion shares, or 70.825%, from 70.719% previously.

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