Fidelity Funds disposes of entire stake in Cordlife

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Fidelity Funds ceased to be a substantial shareholder of Cordlife Group, disposing of its entire 6.39 percent direct stake in an off-market transaction Wednesday, the fund manager said in a filing to SGX Friday.

The 16.88 million Cordlife shares were disposed of for S$8.86 million, the filing said.

FIL Ltd., FIL Investment Management (Hong Kong), FIL Asia Holdings and Pandanus Partners, which had been deemed interested in the shares, also ceased to be substantial shareholders after the disposal, the filing said.

On Thursday, Cordlife had said there were three married trades in its shares 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.

For the second and third trades, Cordlife said Thursday it received notification that substantial shareholder Full Day had acquired 16.88 million shares for S$10.13 million, raising its direct interest to 16.34 percent from 9.69 percent. But the company said at the time, it didn’t receive a notification about the first trade.

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