Cordlife’s substantial shareholder Full Day boosts stake

Singapore two-dollar bills

Cordlife Group pointed to trades by substantial shareholder Full Day after its shares jumped 16.50 percent Wednesday to end at S$0.60, off the day’s high of S$0.63.

That was in response to a trading-activity query to Cordlife from SGX on Wednesday.

The company said there were three married trades on Wednesday: The first trade of 16.88 million shares in the morning session, followed by a second trade of 8.44 million shares and a third trade of 8.44 million shares. The latter two trades were in the afternoon session, it said.

Cordlife said it didn’t receive any notifications about the first trade, but that substantial shareholders’ provided notifications about the second and third trades.

In total, Full Day acquired 16.88 million shares for S$10.13 million, raising its direct interest to 16.34 percent from 9.69 percent, a separate SGX filing said.

That boosted the deemed interest of Hon Kwok Lung and his spouse Lam Suk Ying to 28.17 percent from 21.52 percent, the filing said; Hon owns all of Full Day and 80 percent of Sincere View, which holds 30 million Cordlife shares, it added. Lam owns the remaining 20 percent of Sincere View, it said.

In its response to SGX’s trading-activity query, Cordlife also pointed to the June announcement of its non-binding proposal to take over New York Stock Exchange-listed Global Cord Blood in a S$1.25 billion all-share deal.

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