Wing Tai’s Chairman’s Wife Acquires 60000 Shares Company Total Stake 6203
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Helen Chow, the spouse of Wing Tai’s chairman Cheng Wai Keung, has recently acquired an additional 60,000 shares in the company on October 27. The exact amount she paid for the shares was not disclosed. With this purchase, her total voting shares in Wing Tai now stand at 473,845,859, which represents 62.03% of the total number of ordinary voting shares.
On the same day, Wing Tai’s shares closed at $1.48, recording a 2 cent increase or 1.37% rise. The company’s annual report for FY2023 showed a sharp decline in earnings, down by 91% to $13.3 million. However, this did not seem to deter buyers as Wing Tai managed to sell 23% of its LakeGarden Residences project at an average price of $2,120 per square foot during its launch weekend.
The project garnered a lot of attention, with about 1,800 groups visiting the site during the two weekends of previews. The positive response reflects the attractiveness of Wing Tai’s developments to homebuyers in the current market. With Helen Chow’s latest share acquisition, it is clear that the company continues to have strong support from its key stakeholders, including its chairman’s family.