SINGAPORE - Property firm Ying Li International Real Estate on Friday (Jan 26) lifted the trading halt on its shares, which has been in place for two trading days after a regulatory query prompted it say that its CEO and chairman Fang Ming, and one of its controlling shareholders, had sold some shares through a S$20.7 million married deal.
Responding to the Singapore Exchange query, it said on Thursday evening that Mr Fang had disposed of 153 million shares at 13.5 Singapore cents apiece to another shareholder of the company, State Alpha Ltd. This was reflected as an off-market transaction on Jan 23.
The transaction raised State Alpha's stake in Ying Li by 6 per cent to 14.02 per cent. The fund is, in turn, owned by China Everbright, which now has raised its collective indirect stake in the property firm to 28.92 per cent.
Correspondingly, Mr Fang's stake was reduced from 35.05 per cent to 29.05 per cent.
The firm's trading halt will be lifted at 8.30am on Friday.