$RAFFLES EDUCATION CORP LTD(NR_老虎社区_美港股上老虎

Singapore Tycoon Oei Raises Stake in Raffles Education

1. Oei, the second biggest shareholder of the education provider, bought about 6.4 million shares to boost his holdings to 14% of company’s voting shares, according to a Singapore Exchange filing on Saturday.

2. Raffles Education’s shares rallied as much as 31% on Friday, prompting the exchange to send a query to the company regarding the trading activity. The stock closed at its highest since April 2018.

3. He and his firm Oei Hong Leong Art Museum Ltd. failed in attempts to oust the company’s chairman and founder Chew Hua Seng in 2017 and 2020. He also sued Raffles Education last year over a plan to raise its stake in a Chinese property firm.

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