Federal directors sell 20% stake

Federal directors sell 20% stake

THREE directors and substantial shareholders of oil and gas firm Federal International sold a total of 35 million shares or 19.97 per cent of the company in married deals at 62 cents apiece on Tuesday, Oct 28.

Executive chairman and CEO Koh Kian Kiong (right) sold 16 million shares or a 9.13 per cent stake, reducing his direct shareholding to 0.98 per cent or 1.7 million shares, from 10.11 per cent. He also has a deemed interest in 17.06 per cent of Federal. Executive directors Chew Keng Keong and John Yeo Teck Soon, meanwhile, sold 12 million and 7 million shares respectively. Shares of the engineering group, which have tripled in value since end-April, yesterday fell 3.5 cents to close at 63 cents.

>>>The Business Times<<<

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