Baier trims stake in SingPost

OUTGOING CEO: Dr Baier, who abruptly quit SingPost in December last year, with his wife Nicole


    May 19, 2016

    Baier trims stake in SingPost

    SINGAPORE Post's (SingPost) outgoing chief executive Wolfgang Baier sold off part of his stake in the postal and e-commerce group on Monday, SingPost said in a Singapore Exchange filing on Tuesday evening.

    He sold 2.5 million shares in the open market for about $3.94 million in total, which worked out to an average price of $1.577 apiece.

    That cut his SingPost stake from 3.72 million shares or 0.172 per cent to 1.22 million shares or 0.057 per cent.

    The counter had closed one cent lower at $1.57 on Monday.

    At SingPost's share price of $1.56 as at 11.30am yesterday, Dr Baier's remaining stake would be worth about $1.91 million.

    He abruptly quit SingPost in December last year but said he would be around until end-June this year to support a handover.

    The group has yet to formally announce his successor.