After this $18.4 million transaction, Wealthy Fountain Holdings Inc’s ownership in Seadrill reaches 26,295,051 shares, being approximately 5.333% of the issued share capital.
Described as a self-made property tycoon, Tong Jinquan, whose net worth has been estimated at $4.7 Billion by Forbes, now owns a total of 7.187% of the issued share capital of the company.
As Seadrill explains, as of July 14, 2015, Skyline Horizon Consortium Ltd held an interest of 1,311,028 shares, being approximately 0.266% of the issued share capital of the company; Starray Global Limited held an interest of 515,824 shares, being approximately 0.105%; and Tong Jinquan himself held an interest of 7,315,386 shares, being approximately 1.484%.
RIG beat on ER
The company reported a first quarter net loss of $483 million--following the trend of oil companies that reported a net profit a year ago reporting a net loss this year--yielding earnings of $1.10 per share. Analysts on average were expecting the company to report earnings of 64 cents per share.