IOI Properties CEO buys RM87.99 million in shares
Datuk Lee Yeow Seng acquired 25.14 million shares in four open-market transactions, lifting his direct holding to 3.46%.
Bursa Malaysia filings show that IOI Properties Group Bhd chief executive officer and major shareholder Datuk Lee Yeow Seng spent RM87.99 million buying shares in the developer between late August and Sept 29. The four open-market purchases were made at an average of RM3.50 per share.
The acquisitions increased his direct ownership from 3.31% to 3.46%. His indirect holding stands at 65.68%, held through Vertical Capacity Sdn Bhd, his family’s private investment vehicle.
Before the purchases, Lee had sold 1.04 million shares during the second half of the year. Those four disposals were worth about RM4 million, averaging RM3.85 per share, and reduced his direct holding from 3.33% to 3.31%.
Separately, IOI Properties said on Oct 1 that it had agreed to buy Shenton 101 Pte Ltd from Lee for a nominal S$1.00. The company owns Shenton House in Singapore. IOI Properties plans a 35-storey mixed-use redevelopment of the property.
Under that transaction, Lee will be repaid shareholder advances of S$217.06 million (RM696.43 million), based on the position at July 31, 2026. The amount to be repaid will be finalised when the transaction is completed.
IOI Properties has also received Bursa Malaysia Securities’ approval for the Main Market listing of IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT). The trust will hold retail, office and hotel assets valued at RM7.58 billion.
IOI Properties ended Thursday at RM3.40, down six sen or 1.73%, giving it a market value of RM18.72 billion. Its shares have gained 61.9% over the past year.
