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Healthbank Holdings’ controlling shareholder sells entire stake to executive director and CEO

Felicia Tan
·1-min read

According to the company, Zhang had sold his shares “for his personal purpose”.

Zhang Tian Bao, a controlling shareholder of Healthbank Holdings (formerly SMJ International) 40B, has sold his entire stake to Peng Weile and Peng Fei.

Peng Weile is the executive director and a controlling shareholder of the company while Peng Fei is the executive director and CEO. Peng Fei will also become a controlling shareholder of the company upon the sale.

Zhang, on Sept 18, sold his 24.77% stake amounting to 23.36 million shares for a consideration of $2.34 million or 10 cents per share. The disposal was conducted via an off-market transaction.

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Of the total shares, Peng Fei bought 16.36 million shares for $1.64 million, bringing his stake in Healthbank to 17.35%.

Peng Weile bought the remaining 7 million shares for $700,000, bringing his stake to 29.59%.

According to the company, Zhang had sold his shares “for his personal purpose”.

Healthbank Holdings is a Singapore-based investment holding company that does property investment and facilities management services.

For the 1HFY2023 ended June 30, the company made a loss of RMB2.14 million ($407,254.63).

Singapore Exchange Regulation (SGX RegCo) had slapped a "trade with caution" warning on the company in February after a surge in trading volume in the company’s shares from Aug 22, 2022, to Nov 1, 2022, where 4.4 million shares in Healthbank were traded. In contrast, there were no trades executed in the two months before that.

Shares in Healthbank closed flat at 14.4 cents on Sept 18.

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