Daisho Denshi buys 10.7 pct stake in Suwa Intl at 0.25 hkd per share

Suwa International Holdings Ltd (0567) said Daisho Denshi Co Ltd has bought a 10.7 pct stake in the company from its executive director, Lau Wing Hung at 0.25 hkd per share. In a statement, the company said Lau had sold 80 million shares in the company at 0.25 hkd per share under a private arrangement. Daisho Denshi bought 50 mln shares while another existing shareholder, Harry Chan Sik Ming, bought the remaining 30 mln shares. With the sale, Chan has now become the single largest substantial shareholder in the company, and has been appointed chairman with immediate effect.

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