StarHub’s CEO bought S$518,000 worth of shares at a 6-month low

Tan Tong Hai bought S$518,000 of StarHub shares as the stock plunged to a six-month-low last week.
The Straits Times

The CEO of Singapore’s StarHub Limited, Tan Tong Hai, has just upped his shareholding in the company slightly by buying S$518,000 worth of shares from the open market.

In a report on Feb 19, The Business Times (BT) said that Mr Tan bought 200,000 shares at a six-month-low price of S$2.56 apiece on Feb 15.

The telco’s stock had plunged 10.14 per cent, the biggest one-day delcine since its IPO in 2004, after posting a 74 per cent year-on-year dip in net profit for the three months to Dec 31.

Mr Tan’s shareholding in the company increases to 0.04 per cent from 0.03 per cent as a result of the purchase, BT reported.

In November last year, StarHub announced that Mr Tan would be stepping down from his position to pursue his “own interests” from May 1.