OM Holdings executive chairman Low Ngee Tong has acquired almost 15.5 million shares in the company at a cost of $6.2 million, through participation in a rights issue. Mr Low now has a stake of 67 million shares in the diversified minerals group that is currently worth over $20 million. OM Holdings recently completed a three-for-10 non-renounceable entitlement offer, raising a total of $27.7 million to finance its Ferro Alloy Smelting project in Sarawak, Malaysia. Sydney-based corporate advisory firm MH Carnegie & Co acted as lead manager to the offer.
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