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BGMC International Ltd. ( (HK:1693) ) just unveiled an update.
BGMC International announced that Prosper, a company wholly owned by founding shareholder Tan Sri Barry Goh, has transferred a total of 18 million shares to two independent investors, each now holding more than 5% of the company. Following these transfers, Barry Goh no longer holds any direct or indirect interest in BGMC, while fellow founder Dato’ Michael Teh’s stake via Seeva has fallen from about 31% to 8.58%.
Concurrently, Goh and Teh have signed a deed terminating their earlier concert party arrangement, under which they had agreed to act in unison on material business decisions and voting matters. As a result, Seeva and Teh, whether jointly or separately, no longer control more than 30% of BGMC’s voting rights and have ceased to be controlling shareholders, signaling a significant shift in the company’s ownership structure and governance dynamics.
More about BGMC International Ltd.
BGMC International Ltd. is a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange under stock code 1693. The group operates through various subsidiaries, with control and voting power previously concentrated among its founding shareholders through concert party arrangements.
Average Trading Volume: 74,342
Technical Sentiment Signal: Buy
Current Market Cap: HK$603.7M
See more data about 1693 stock on TipRanks’ Stock Analysis page.