Stake changes: Mondrian Investment buys ESR-REIT units; QT Vascular, Metech, MNACT, AA REIT, Viking

ESR-REIT property near Singapore’s Tai Seng MRTESR-REIT property near Singapore’s Tai Seng MRT

Singapore substantial shareholder changes announced on Friday, 19 November 2021: ESR-REIT, QT Vascular, Metech International, Trans-China Automotive Holdings, Mapletree North Asia Commercial Trust (MNACT), AIMS APAC REIT, Huationg Global, Viking Offshore, China Star Food Group, and Hoe Leong Corp.

ESR-REIT

Mondrian Investment Partners became a substantial shareholder of ESR-REIT after acquiring 9 million units in the market for S$4.37 million on 17 November, taking its deemed interest to 5.14 percent from 4.91 percent previously, according to a filing to SGX Friday. The change was due to discretionary investment management, the filing said.

Mondrian Investment Partners, which is an employee-owned investment manager with offices in London and Philadelphia, had more than US$60 billion under management as of end-June, according to its LinkedIn profile. Its clients include corporations, public and private pension plans, endowments, foundations, and individual investors, the profile said.

ESR-REIT

Tong Jinquan’s total interest in ESR-REIT has increased to 21.05 percent from 20.98 percent after ESR-REIT issued around 3.31 million new units at S$0.475 each, or around S$1.57 million in total, to ESR Funds Management as partial payment for management base fees for the third quarter, according to a filing to SGX Friday.

ESR Funds Management is 25 percent-owned by Shanghai Summit, which is wholly owned by Tong Jinquan, who is a non-executive director of ESR-REIT’s manager, the filing said.

In addition to the ESR-REIT units held by ESR Funds Management, Tong Jinquan is deemed interested in the ESR-REIT units held by Wealthy Fountain Holdings and Skyline Horizon Consortium — 60 units and 13.17 million units, respectively — both of which are wholly owned by Shanghai Summit, the filing said.

Leading Wealth Global, which holds 621.95 million ESR-REIT units, is a wholly owned subsidiary of Longemont Real Estate, which in turn is wholly owned by Shanghai Summit (Group), which is also wholly owned by Tong Jinquan, who is deemed interested in those shares as well, the filing said.

QT Vascular

Eitan Konstantino, CEO of QT Vascular, acquired 28.85 million shares of the company for S$173,119, following the exercise of share options, taking his total interest to 1.68 percent from 0.41 percent previously, according to a filing to SGX Friday.

Konstantino still retains 11.65 million unissued shares underlying his options, compared with 40.5 million previously, the filing said.

In a separate filing, substantial shareholder Mission Well, which is seeking a shareholder extraordinary general meeting to remove key executives, including Konstantino, said its interest in QT Vascular fell to 10.9 percent from 11.04 percent previously, after the allotment of the shares issued to Konstantino under the options exercise.MondrianMondrian Investment Partners

Christian Kwok-Leun Yau Heilesen is the sole owner of Mission Well and is deemed interested in its holdings, the filing said.

Read more: UPDATE: Mission Well calls for QT Vascular to hold EGM to remove CEO and other directors

Metech International

Lim Hean Nerng, the founder of LHN Group, has disposed of 2.25 million shares of Metech International for S$641,250 in a market transaction on 17 November, taking his stake down to 7.83 percent from 9.47 percent previously, according to a filing to SGX Friday.

He then acquired 2.49 million shares of Metech International for S$710,249 in a market transaction on 18 November, taking his interest back up to 9.65 percent, the filing said.

A separate filing indicated Lim’s interest was diluted to 9.53 percent after the issuance and allotment of 1.67 million new shares after the exercise of unlisted warrants issued in October.

According to a separate filing, substantial shareholder Wu Yongqiang, who had his shareholding diluted to 12.4 percent from 12.55 percent due to the warrants’ exercise, acquired 3 million shares in the market for S$856,930 on Friday, taking his total interest to 14.56 percent.

Trans-China Automotive Holdings

Francis Tjia Han Joe, executive director and CEO of Trans-China Automotive Holdings, acquired 5.5 million shares of the company at S$0.265 each, or a total S$1.46 million, in a market transaction, taking his deemed interest to 76.54 percent from 75.6 percent previously, according to a filing to SGX Friday.

Mapletree North Asia Commercial Trust

Mapletree North Asia Commercial Trust Management, the manager of Mapletree North Asia Commercial Trust (MNACT), has acquired 9.63 million units at S$0.9716 each as payment of the base fee for the April-to-September period, taking its total interest to 5.58 percent from 5.31 percent, according to a filing to SGX Friday.

In addition, 5.63 million units were issued to Mapletree North Asia Property Management, the property manager for MNACT, as payment of the property management fee related to Festival Walk and Gateway plaza for the April-to-September period, taking its holding to 75.79 million units, according to a separate filing.

AIMS APAC REIT

AIMS APAC REIT Management acquired 3.23 million new units of AIMS APAC REIT at S$1.4222 each as payment of the acquisition fee related to the REIT’s acquisition of the Woolworths headquarters in Australia, taking the manager’s interest in the REIT to 1.16 percent from 0.71 percent previously, according to a filing to SGX Friday.

George Wang, AIMS APAC REIT Management’s chairman, is deemed interested in the units as his associated company and trust are the entity’s ultimate owner, causing his deemed interest in AIMS APAC REIT to rise to 8.53 percent from 8.12 percent previously, according to a filing to SGX.

Huationg Global

Cheong Weixiong (Zhang Weixiong) has ceased to be a substantial shareholder of Huationg Global after selling 2.85 million shares in the market on 17 November for S$466,660, taking his total interest to 3.488 percent from 5.102 percent previously, according to a filing to SGX Friday.

Cheong Weixiong (Zhang Weixiong) had become a substantial shareholder earlier this month after acquiring the 5.102 percent stake in a placement deal.

Jin Xin Wealth Management, which had also become a substantial shareholder of the company earlier this month, ceased to be a substantial shareholder after selling 3 million shares in the market for S$492,150 on 17 November, taking its stake down to 3.402 percent from 5.102 percent previously, according to a separate filing to SGX Friday.

Yap Soon Heng @ Julian Yap, who is the director and sole shareholder of Jin Xin Wealth Management, is deemed interested in the shares, the filing said.

Viking Offshore

Read more: Viking Offshore gets mandatory offer after investor group acquires 87 percent stake

Toh Kok Soon became a substantial shareholder of Viking Offshore after acquiring 75.43 million shares for S$754,332 on 18 November in an off-market transaction, for a 13.73 percent direct stake, according to a filing to SGX Friday.

Irelia Management became a substantial shareholder after acquiring 100,79 million shares for S$1.0 million in an off-market transaction on 18 November, for an 18.35 percent stake; Tan Chiau Wei, who owns all of Irelia Management, is deemed interested in the shares, according to a filing to SGX Friday.

Tristan Management became a substantial shareholder after acquiring 141.42 million shares for S$1.41 million in an off-market transaction on 18 November for a 25.74 percent stake; Ng Boon Chee, who owns all of Tristan Management, is deemed interested in the shares, according to a filing to SGX Friday.

Subtleway Management became a substantial shareholder after acquiring 143,96 million shares for S$1.44 million in an off-market transaction on 18 November for a 26.21 percent stake; Lim Jun Hao, who owns all of Subtleway Management, is deemed interested in the shares, according to a filing to SGX Friday.

Ng Yeau Chong, CEO of Viking Offshore, ceased to be a substantial shareholder after disposing of 35.85 million shares for S$358,457 in an off-market transaction on 18 November, taking his interest to 0.006 percent from 6.53 percent previously, according to a filing to SGX Friday.

Blue Ocean Capital Partners has ceased to be a substantial shareholder after disposing of 442.1 million shares for S$4.42 million in an off-market transaction on 18 November, taking its interest down to zero from 80.48 percent previously; Lin Wei Daniel owns all of Blue Ocean Capital Partners and is deemed interested in its holdings, according to a filing to SGX.

China Star Food Group

PTS Capital acquired 100 million shares of China Star Food Group in a placement for S$2.4 million, taking its total interest to 14.88 percent from 11.9 percent previously, according to a filing to SGX Friday; Yu Lei, who owns more than 20 percent of PTS Capital’s voting rights is deemed interested in the shares, the filing said.

Liang Chengwang, chairman and CEO of China Star Food, acquired 60 million shares of the company in the placement for S$1.44 million, but his percentage stake fell to 15.94 percent from 18.17 percent previously, according to a separate filing to SGX. The decline was likely due to dilution from the placement.

Duanmu Xiaoyi, an executive director, acquired 20 million shares for S$480,000 in the placement, with her total interest rising to 3.62 percent from 3.39 percent, according to a filing to SGX.

In a separate filing, China Star Food said the placement price of S$0.024 a share was based on the volume-weighted average price of trades on 21 September. The sweet-potato snack maker has earmarked to pay for subsidiary Fujian Zixin to begin produce sweet potatoes and to expand in Singapore, the filing said.

Read China Star Food’s filing to SGX on the placement.

Hoe Leong Corp.

Hoe Leong Co. disposed of 170 million shares of Hoe Leong Corp. in the market for S$340,018, taking its interest down to 22.64 percent from 25.35 percent previously, according to a filing to SGX.

Mr. Kuah Geok Khim, Quah Yoke Hwee and Kuah Geok Lin are deemed interested in the shares, the filing said.

Mdm. Kuah Geok Khim, who is senior manager of Hoe Leong Crawler Parts (HLCP), is deemed interested in those shares and she sold 3.4 million shares in the market for S$6,801, taking her stake down to 22.7 percent from 25.47 percent previously, according to a separate filing.

She is the sister of substantial shareholders Kuah Geok Lin and Quah Yoke Hwee and Mr. Kuah Geok Khim is a relative.

 

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