Tang Jialin, the father of billionaire businessman Gordon Tang, has acquired 2 million units of Suntec REIT.
The units were acquired via a market transaction on 20 May.
Units of the REIT were acquired by Tang Jialin for a total consideration of SGD2.84 million.
The units were acquired as Suntec REIT breached its multi-week high of SGD1.40.
With the acquisition, he now holds direct interest over 168,814,100 units in Suntec REIT.
This represents a stake of about 6% in the REIT.
Tang Jialin also has deemed interest over 57,095,100 units of Suntec REIT via Senz Holdings Limited.
Tang’s son, Gordon Tang, is also a substantial unitholder of Suntec REIT.
The younger Tang has a stake of about 9.5% in Suntec REIT, with a holding of more than 250 million units.
Suntec REIT was last done on the Singapore Exchange (SGX) at SGD1.37, down 3.5% from the previous close.
