Seadrill: Chinese Investor Tong Jinquan Upgrades Stake to 5.2%

   By Dominic Chopping 
 

Oslo-listed Seadrill Ltd. (SDRL) said Monday that Tong Jinquan has increased his stake in the company to 5.2% following a series of acquisitions on 6th February.

Wealthy Fountain Holdings Inc, a company fully owned by Mr. Jinquan, bought 1.3 million shares in the company at a price of $13.26 a share.

After the transaction, Wealthy Fountain Holdings' ownership in Seadrill reached 21,334,956 shares, being approximately 4.33% of the issued share capital.

In addition, and on the same date, Skyline Horizon Consortium Ltd held an interest of 1,111,028 (0.23%)shares, Starray Global Limited held an interest of 400,000 (0.08%) and Tong Jinquan held an interest of 2,775,000 (0.56%) shares.

Wealthy Fountain Holdings Inc, Skyline Horizon Consortium Ltd and Starray Global Limited are all 100% owned by Shanghai Summit Pte. Ltd. , which is 100% owned by Mr. Jinquan.

As a result, Tong Jinquan holds a total interest of 25,620,984 (5.2%) shares as the beneficiary owner.

At 0907 GMT shares traded 3% higher at NOK103.40.

-Write to Dominic Chopping at [e-mail]; Twitter: @WSJNordics

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