Monday, 8 July 2013

Quek increases stake in Bank of East Asia

Tan Sri Quek Leng Chan has increased his stake in Hong Kong.s family-run Bank of East Asia Ltd (BEA) to 15.02% from 14.99% via vehicle Guoco Group Ltd. In a filing to the Hong Kong Stock Exchange on July 4, Guoco had bought 0.74m shares at an average price of HK$27.41 (RM11.29) on Jun 26. Guoco continues to be the second-largest shareholder of BEA, behind Spain.s CaixaBank, which has a 16.13% stake. Shares of BEA have risen 4.07% in the past two days to HK$28.15 (RM11.57) since the announcement. (Starbiz)

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