Wing Tai’s Chairman’s Wife Acquires 60000 Shares Company Total Stake 6203
On October 27, Helen Chow, the wife of Wing Tai’s chairman Cheng Wai Keung, acquired an additional 60,000 shares in the company. The exact amount of the purchase was not disclosed. This increases her total voting shares in the company to 473,845,859, which accounts for 62.03% of the total number of ordinary voting shares.
On the same day, shares in Wing Tai closed at $1.48, a 1.37% increase from the previous day. This reflects strong investor confidence in the company. This news comes after Wing Tai announced a 91% decrease in earnings for FY2023.
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In addition, Wing Tai successfully sold 23% of its LakeGarden Residences at an average price of $2,120 per square foot during its launch weekend. This was met with high demand, as approximately 1,800 groups visited the property over two weekends of previews.
Overall, these developments demonstrate the strong performance of Wing Tai and its projects, despite the current economic climate. The company continues to garner support from shareholders and investors, further solidifying its position as a leader in the real estate industry.