Reported 6 months ago
Far Eastern Construction's founder and director, major shareholder, Zhaoteng Xiong, disclosed the transfer of 2,886.457 shares under his name, planning to dilute his holdings by around 0.37% from July 20 to August 19, signaling a gradual retreat. However, the Zhaoteng Xiong family still holds the absolute majority of at least 65% of Far Eastern Construction shares. Zhaoteng Xiong transferred the chairmanship to his eldest son Zhaowen Jia in 2018, stepping back due to legal issues and focusing on his health, while maintaining strong control over the company.
Source: YAHOO