Eagle Hospitality Trust sponsor’s principal buys more units

U.S. one-dollar currency notes; taken September 2018.U.S. one dollar bills.

Howard Chorng Jeng Wu, a principal of Eagle Hospitality Trust’s sponsor, has purchased more units of the trust via his wholly owned companies, Wu said in a filing to SGX Thursday.

Wu’s deemed interest in the REIT increased to 6.1 percent from 6.04 percent after the acquisition of 561,000 units at US$0.538 each by his wholly owned company Dragonbay Fortune in a market transaction, the filing said.

The REIT’s sponsor, Urban Commons, has Wu and Taylor Woods as co-founders and principals, according to the sponsor’s website.

Wu is also the non-independent and non-executive chairman of Eagle Hospitality REIT Management, the REIT’s manager, the filing said.

Prior to the transaction, Dragonbay Fortune held 26.72 million units, while Wu’s other wholly owned vehicles, Fortress Empire Group and Vertical Gain, held 24.0 million units and 1.886 million units, respectively, the filing said.

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