Weekly | E28, H13, N01, BTJ & 53W lead Buybacks

Over the five sessions, close to 90 director interests and substantial shareholdings were filed for around 40 primary-listed stocks. Directors or CEOs reported 22 acquisitions and four disposals, while substantial shareholders recorded seven acquisitions and seven disposals.

In addition, the five sessions saw 17 primary-listed companies conduct buybacks with a total consideration of S$46 million, led by United Overseas Bank, Keppel and Singapore Telecommunications.  

1. $Frencken(E28.SI)$

On 27 August, Frencken Group entered into a placement agreement with Maybank Securities as sole placement agent for a proposed placement of 44.08 million new shares at S$2.2687 per share to raise gross proceeds of S$100 million. The placement price represents a discount of approximately 10% to the pre-halt VWAP. The new shares represent 10.27% of existing issued shares and approximately 9.31% of the enlarged share capital.

2. $Ho Bee Land(H13.SI)$

On 25 August, Mdm Ng Noi Hinoy, spouse of Executive Chairman and Executive Director Chua Thian Poh, acquired 50,000 Ho Bee Land shares on market for S$102,115, at an average price of approximately S$2.04 per share. The transaction continues a long history of substantial insider ownership and periodic share accumulation by the founding family. Dr Chua maintains a deemed interest of 76.07% in the company

3. $NeraTel(N01.SI)$

Between 18 August and 25 August, Steve Chu Fu-Chuan, Executive Chairman and Executive Director of Nera Telecommunications, acquired an aggregate 219,500 shares on-market for S$39,352, at an average price of approximately S$0.179 per share.

The purchases increased his direct interest from 3,126,800 shares to 3,346,300 shares, representing 0.925% of the company's issued share capital from 0.864% previously. The acquisitions comprised 49,600 shares and 5,000 shares on 18 August, 400 shares on 19 August, 50,000 shares on 20 August, 100,000 shares on 21 August and 14,500 shares on 25 August.

4. $A-Sonic Aero(BTJ.SI)$

Chief Executive Officer and substantial shareholder Janet LC Tan acquired 59,600 A-Sonic Aerospace shares on 21 August through an open-market purchase at an average price of S$0.58 per share, for a total consideration of S$34,817. Following the transaction, her direct interest increased to 67.14 million shares from 67.08 million shares previously, raising her stake to 67.07% from 67.01%. 

5. $Attika Group(53W.SI)$

On 21 August, Steven Tan Buan Joo, Managing Director and Executive Chairman of Attika Group Ltd, acquired 200,000 shares on market for S$40,000, at S$0.20 per share. The purchase increased his direct interest from 198.8 million shares to 199.0 million shares, with his total interest remaining at 73.8% of the company’s issued share capital.