Singapore Tycoon Oei Raises Stake in Raffles Education
- He bought 6.4 million shares to boost his holdings to 14%
- Oei raises stake after twice seeking for chairman’s ouster
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Singapore businessman Oei Hong Leong raised his stake in Raffles Education Corp., a private school operator he has been in various disputes with since 2017.
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. He held 13.5% of the company before the purchase.