Marco Polo Marine (SGX:5LY) said its shareholder, Michael Kum, has boosted his stake in the company by acquiring 60 million more shares, according to a Friday filing with the Singapore Exchange.
The acquisition was carried out through Kum's entity, Halom Investments, buying the shares from Penguin International.
Following the acquisition, the marine industry veteran's stake has increased to 225 million shares, representing 5.77% stake in the company.
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