Kunlum Investment Holding ceased to be a substantial shareholder of Cordlife Group, selling 54,915,900 shares in an off-market transaction for a consideration of S$22.83 million, it said in a filing to SGX after the market close on Monday.
The direct Cordlife stake held by Kunlum Investment fell to 0.25 percent from 21.93 percent, the filing said.
The deemed interests in Cordlife held by LH Capital I, LH Partner Assets, Shanghai Yuanzhan Haolin Investment LP, Lighthouse Capital Management LLC, Hu Minglie, Yu Yuesu and Li Zhe also fell to 0.25 percent from 21.93 percent, the filing said.
Kunlum Investment is entirely owned by LH Capital I, which is 95 percent owned by LH Partner Assets, which in turn is 100 percent owned by Shanghai Yuanzhan Haolin Investment, it said.
Lighthouse Capital Management is the general partner of and controls Shanghai Yuanzhan Haolin Investment, while Hu Minglie, Yu Yuesu and Li Zhe each hold 56 percent, 24 percent and 20 percent respectively of Lighthouse Capital, it said.