Sin Huat Company has emerged as a new substantial shareholder at Hanwell Holdings after it acquired 68 million shares amounting to 12.29% of the company’s total issued and paid-up share capital on June 11 via an off-market transaction.

The announcement, which came on June 14, follows a June 11 announcement where Hanwell’s controlling shareholder and former director, Dr Tang Cheuk Chee, had disposed of 68 million shares for a consideration of $28.56 million.

See: Hanwell reveals significant shareholder disposes of 12.3% stake for $28.6 mil in response to SGX query

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