Stake changes: BlackRock boosts Suntec REIT stake; Miyoshi, AEI, GVT, Metech

Suntec City mall entranceSuntec City mall entrance

Singapore substantial shareholder changes: Suntech REIT and BlackRock, Miyoshi and Sycamore Capital SPC – Sycamore Equity Fund, AEI Corp. and MTBL Global Holdings, Grand Venture Technology and Metech International.

Suntec REIT

BlackRock became a substantial shareholder of Suntec REIT, with its deemed interest rising to 5 percent from 4.99 percent after the acquisition of 152,200 units in the market for S$225,880, the asset manager said in a filing to SGX Monday.

The deemed interest is held via various BlackRock subsidiaries, the filing said.

Miyoshi

Miyoshi Ltd. said Monday it completed its placement of 48.31 million new shares to subscribers at S$0.02070 each to raise a total of S$1 million. The new shares will begin trading on SGX on 29 December.

Under the placement, Sycamore Capital SPC – Sycamore Equity Fund acquired around 33.82 million shares of Miyoshi for S$700,000, taking its stake to 5.1 percent of the company’s shares from just 34,918 shares previously, according to a filing to SGX.

Sycamore Equity Fund SP is a segregated portfolio set up under Sycamore Capital SPC with only accredited investors.

Sycamore Equity Fund SP’s investment objective is medium to long-term capital appreciation through investment in various financial instruments that assist small and medium capitalisation, publicly listed companies. The fund invests in quoted shares and options, as well as warrants, rights issue, preference shares, notes, convertible instruments and derivatives.

AEI Corp.

MTBL Global Holdings disposed of 812,500 shares of AEI Corp. in an off-market transaction on 22 December for S$650,000, taking its holding to 13.14 percent from 14.07 percent previously, according to a filing to SGX Monday.

On 27 December, MTBL Global Holdings disposed of around 1.19 million shares of AEI Corp. for S$950,000, taking its holding to 11.77 percent, the filing said.

Sun Quan, an executive director at AEI Corp., is deemed interested in the shares because he wholly owns MTBL Global Holdings; he has a controlling interest in the fund manager of MTBL Global Fund and is also deemed interested in shares held by it, a filing to SGX said.

Sun Quan is deemed interested in 51.35 percent of AEI Corp.’s shares, down from 53.65 percent before the two share transactions, the filing said.

Grand Venture Technology

Lee Tiam Nam, executive chairman of Grand Venture Technology, bought 50,600 shares of the company in the market on 24 December for S$1.19401 a share, taking his stake to 15.72 percent from 15.71 percent previously, according to a filing to SGX Monday.

Metech International

Lim Hean Nerng, the founder of LHN Group, acquired 1 million shares of Metech International in the market for S$365,000 on 24 December, taking his stake to 13.255 percent from 12.585 percent previously, according to a filing to SGX Monday.

 

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