DBS CEO Piyush Gupta sells $12.6 million worth of shares as bank hits all-time high
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The transactions reduced DBS CEO Piyush Gupta's current holdings to 1.9 million shares from 2.2 million shares before.
PHOTO: ST FILE
Benjamin Cher
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SINGAPORE - Outgoing DBS chief executive officer Piyush Gupta sold lots of his DBS shares on Nov 7 and Nov 8, amid a bank rally that sent DBS shares past the $40 mark.
In a bourse filing on Nov 11, the bank disclosed that he sold 300,000 shares over those two days – 100,000 shares at $41.7513 a share on Nov 7, and 200,000 shares at $42.2023 a share the following day.
The two transactions netted Gupta $12.6 million, and reduced his current holdings to 1.9 million DBS shares from 2.2 million shares before.
His transactions come as Singapore banking stocks rallied
DBS closed up 0.8 per cent or 35 cents to $42.75, OCBC closed up 1.6 per cent or 26 cents to $16.32, while UOB was the top gainer on the Straits Times Index, up 2.7 per cent or 96 cents to $36.65. THE BUSINESS TIMES
