Wing Tai’s Chairman’s Wife Acquires 60000 Shares Company Total Stake 6203
On October 27, Helen Chow, wife of Wing Tai’s chairman Cheng Wai Keung, purchased an additional 60,000 shares in the company for an undisclosed sum. This brings her total number of voting shares in the company to 473,845,859, representing 62.03% of the total number of ordinary voting shares.
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On the same day, shares in Wing Tai closed 2 cents higher, or 1.37% up, at $1.48. The company has recently reported a 91% decrease in earnings to $13.3 million for FY2023.
Additionally, Wing Tai has successfully sold 23% of its LakeGarden Residences at an average price of $2,120 per square foot during its launch weekend. Over the course of two weekends of previews, approximately 1,800 groups have visited the development.
The positive response to LakeGarden Residences highlights the strong interest in Wing Tai’s projects and the company’s ability to adapt to changing market conditions. This purchase of shares by Chow also demonstrates confidence in the company’s future prospects.