CEO Wee in the market for UOB shares with $2 million spent over three trading days

Wee paid between $26.7227 and $26.95 each for the shares

Wee Ee Cheong, deputy chairman and CEO of United Overseas Bank, has been buying shares of the bank from the market recently, spending a total of some $2 million over three trading days.

On Aug 19, Wee paid $26.80 per share for 25,000 shares. On Aug 22, he bought another 25,000 shares, paying $26.7227 each. On Aug 16, he paid $26.95 for 50,000 shares.

He now holds a direct stake of around 3.18 million shares, equivalent to 0.19% of the company.

In addition, Wee has a deemed interest in another 173.7 million shares, giving him a total interest of nearly 176.89 million shares, equivalent to 10.56%.

On July 29, UOB reported earnings of $1.11 billion for the 2QFY2022 ended June, up 11% y-o-y, thanks to better margins and recovery in trading and investment income.

The bank declared an interim dividend of 60 cents per share, representing a payout ratio of 50%.

UOB shares closed Aug 23 at $27.51, up 0.66% for the day and up 2.15% year to date.

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