Ong Beng Seng raises stake in Hotel Properties with 1.2 million share buy

The transaction increased Ong’s stake in Hotel Properties to 60.45%.

Hotel Properties’ managing director Ong Beng Seng has acquired 1.2 million shares in the company for $4.3m or $3.58 per share.

The securities were acquired via an off-market transaction on 4 March.

The transaction increased Ong’s stake in Hotel Properties to 60.45% or 316 million shares.

Ong’s deemed interest in the 207,679,232 shares in the Company held after the changes are 79 million shares held by 68 Holdings (68H), 23 million shares held by his wife, Christina Ong; 2.9 million shares held by Comojo Holdings, and 2.25 million shares held by Reef Holdings.

Cuscaden Partners holds a controlling interest in 68H and Ong holds a controlling interest in Cuscaden.

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