Oxley deputy CEO buys S$873,000 of shares after stock's sharp fall

SINGAPORE - Oxley Holdings executive director and deputy CEO Eric Low See Ching has purchased a total of 2.5 million company shares on the open market for a total of S$872,803, according to company announcements on Tuesday (July 10) and Wednesday.

On Tuesday, a purchase was made for 1,974,700 of the property developer's shares at 35.246 cents per share.

It was followed by another purchase of 500,000 shares at 35.36 cents on Wednesday. The price per share for the two purchases together averaged 35.27 cents.

The transactions bring the number of ordinary voting shares held by Mr Low to 1,118,319,792, or 27.69 per cent of the total number of ordinary voting shares, from 27.63 per cent before the purchases.

The purchases were made after recent property cooling measures sent the developer's stock to its largest ever one-day drop on Friday, when the share price fell 15.9 per cent. Oxley shares were trading at 35.5 cents at 1.05pm after the midday break on Wednesday.