SINGAPORE (July 21): Leong Horn Kee, chairman of SPH REIT, has sold all his 300,000 units into the open market.
Leong’s wife, Chuang Lee Eng, similarly, sold all her 200,000 units as well, according to a filing to the SGX.
They sold at an average of 86.5 cents.
Leong isn’t the only insider selling SPH REIT recently.
On June 17, labour movement National Trade Union Congress sold 400,000 units for $355,960, or an average of 89 cents.
With that sale, NTUC has trimmed its stake from 5.012% to 4.998%, which means it isn’t obliged to declare further selling.
SPH REIT’s key assets are Paragon and Clementi Mall.
SPH REIT closed July 21 unchanged at 88 cents.