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Huationg CEO acquires 12.5 mil shares from substantial shareholder for $1.8 mil

CEO Patrick Ng direct interest in Huationg has increased to 7.75%, with a total stake of 76.45% including deemed interest.

Mehta Vimesh Piyush, a substantial shareholder of Huationg Global 41B, has sold 12.5 million shares in the civil engineering services provider to the company’s CEO Patrick Ng for $1,775,000 or 14.2 cents apiece.

The off-market transaction took place on April 1 and was completed on the same day.

After the sale, which was completed on the same day, Piyush ceased to become a substantial unitholder of Huationg, reducing his stake from 8.01% to 0.96%.

Meanwhile, Ng’s direct stake in Huationg after the sale stands at 7.75%, up from 0.69% previously. The CEO has a deemed interest in another 121.76 million shares, giving him a total stake of 76.45%.

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Shares in Huationg closed unchanged at 14.8 cents on April 2.

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