Over the past few months, Cai Tianbao and Cai Weicheng, the son of the group president, have been increasing their stake in the company. Since May 14, Cai Tianbao has spent a total of 652,763 yuan to repurchase 366,100 shares, with an average price per share of 1.783 yuan.
Homeland is known for developing luxury residential projects in Sentosa Cove and currently holds nearly 5.2 billion yuan of real estate investment, of which 2.8 billion is permanent land. Its assets include The Metropolis, a Grade A office building located in one-north.
As of 3:20 pm on Tuesday (June 10), the company's stock price rose 5.82% to 2 yuan.
Last Thursday (June 5), after Ho Bee Holdings, controlled by the Cai family, acquired 137,900 shares of the company's shares for 248,220 yuan, Cai Tianbao's shareholding ratio increased from the original 75.66% to 75.68%.
Cai Tianbao, founder and executive chairman of Ho Bee Land, repurchased the company's shares many times, triggering market speculation about the company's plan to privatize, and this move also pushed the company's stock price to rise by more than 5%.
TheGroup's investment portfolio is located in many parts of the world. According to the latest annual report, Hemei Land has eight prime office buildings in London, UK, worth up to 1.7 billion pounds (about S$3 billion). It also owns real estate in Australia, with another 1% of its portfolio in China.