Stake changes: VTAC, Temasek, Pegasus Asia, Morgan Stanley, MUFG, DBS

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Singapore substantial shareholder changes: Vertex Technology Acquisition Corp. (VTAC), Temasek Holdings, Morgan Stanley, Mitsubishi UFJ Financial Group, Pegasus Asia and DBS.

Vertex Technology Acquisition Corp. (VTAC) and Temasek Holdings

Singapore state-owned investment company Temasek Holdings‘ deemed interest in Vertex Technology Acquisition Corp. (VTAC) declined to 35.09 percent from 36.5 percent previously after the stabilizing manager for VTAC’s initial public offering (IPO), Credit Suisse (Singapore) exercised the over-allotment option and increased the total number of VTAC units. 

Temasek has a deemed interest in 14.6 million units of VTAC, the filing said.

After the issuance of around 1.6 million additional units on 18 February, the total number of VTAC units rose to around 41.61 million, the filing said. 

Vertex Technology Acquisition Corp. (VTAC), Morgan Stanley and Mitsubishi UFJ Financial

Morgan Stanley’s deemed interest in Vertex Technology Acquisition Corp. (VTAC) declined to 2 million units, or 5 percent, from 3.2 million units, or 8 percent, previously, after the investment bank ceased to be able to exercise the right to rehypothecate or dispose of 1.2 million units on 17 February, according to a filing to SGX Tuesday.

Mitsubishi UFJ Financial Group is deemed interested in the VTAC units due to holding more than 20 percent of Morgan Stanley, according to a separate filing to SGX Tuesday. 

DBS

Piyush Gupta, the CEO of DBS, received 80,460 shares of the bank due to the vesting of share awards on 21 February, taking his total interest to 2.29 million shares, or 0.089 percent, up from 0.086 percent previously, according to a filing to SGX Tuesday. 

The number of rights/options/warrants convertible to shares held by Gupta declined to 856,831 from 937,291 previously, the filing said.

Pegasus Asia, Morgan Stanley and Mitsubishi UFJ Financial

Morgan Stanley’s deemed interest in Pegasus Asia fell to 700,000 units, or a 2.298 percent interest, from 1.7 million units, or a 5.581 percent interest, after the investment bank ceased to be able to exercise the right to rehypothecate or dispose of 1 million units on 17 February, according to a filing to SGX Tuesday.

No consideration was paid or received for the units, the filing said.

Mitsubishi UFJ Financial Group is deemed interested in the Pegasus Asia units due to holding more than 20 percent of Morgan Stanley, according to a separate filing to SGX Tuesday. 

Geo Energy Resources

Cheng Xin Investment saw its deemed interest in Geo Energy Resources fall to 6.55 percent from 7.37 percent after the disposal of 11.56 million shares in the market for around S$4.64 million on 18 February, according to a filing to SGX Wednesday.

Lenny Limanto is the sole beneficial owner of Cheng Xin Investment, and she has the equivalent deemed interest in Geo Energy, the filing said.

International Resources Investment, which held 117 million shares, according to the 2020 annual report, is a wholly-owned subsidiary of Cheng Xin Investment.

Infinity Pacific Investment, which held 28.72 million shares according to the 2020 annual report, is a wholly-owned subsidiary of Infinity Source Investment, which is wholly-owned by Cheng Xin Investment.

Cheng Xin Investment is therefore deemed interested in shares held by International Resources Investment and Infinity Pacific Investment.