Family raises Ryoden stake

The majority shareholder of property firm Ryoden Development says the Hu family has paid $546.18 million to acquire 25.26 per cent of the issued share capital of the company from Ryoden (Holdings).

Ryoden (Holdings) is a private company jointly owned by the Hu family, Mitsubishi Electric Corp and Mitsubishi Corp.

After the purchase, the Hu family's direct shareholding will have increased from 40.53 per cent to 65.8 per cent.