Weekly: ALK, OTX, BDA, A93, UIBU & XVG lead Buybacks
Over the five sessions, close to 70 director interests and substantial shareholdings were filed for more than 35 primary-listed stocks.
Directors or CEOs reported six acquisitions and no disposals, while substantial shareholders recorded six acquisitions and four disposals. This included CEO or director acquisitions filed for AcroMeta, All-Link Air & Sea, PNE Industries, Stamford Land and SunMoon Food.
1. $All-Link A&S(ALK.SI)$
Executive Director and substantial shareholder Mdm Tang Ying acquired 5,050,800 shares on 5 August, the first day of trading for All-Link Air & Sea on the SGX Mainboard. The acquisition increased her direct interest from 51.7% to 55.02%. The group raised gross proceeds of approximately S$20.1 million from its IPO.
2. $Medinex(OTX.SI)$
On 5 August, MediNex Executive Director and Chief Executive Officer Jessie Low Mui Choo acquired 400,000 shares for S$92,000, or S$0.23 per share. The married deal increased her direct interest from 28.54 million shares to 28.94 million shares, while her total interest, including the 390,000 shares deemed held through her spouse, rose to 29.33 million shares, equivalent to 21.8% of the company’s issued share capital.
3. $PNE Industries(BDA.SI)$
On 3 August, PNE Industries Managing Director Tan Koon Chwee acquired 132,400 shares for S$51,636, or S$0.39 per share, via a market transaction. The purchase increased his direct interest from 9.48 million shares to 9.62 million shares, equivalent to 11.46% of the company’s issued share capital.
4. $Amova Asia exJC S$(A93.SI)$
On 6 August, Amova Asset Management Asia reported that its deemed interest in Frencken Group had increased from 29.74 million shares, or 6.93%, to 30.66 million shares, or 7.14%, following the acquisition of 924,600 shares on 3 August at an average price of approximately S$2.51 per share.
At the group level, Amova Asset Management Co., Ltd increased its deemed interest from 29.92 million shares, or 6.97%, to 30.85 million shares, or 7.19%. Amova Asia first became a substantial shareholder on 30 March when its interest increased to 5.08%, and subsequently increased its stake above the 6% threshold on 2 June.
5. $UIBREIT(UIBU.SI)$
On 28 July, Amova Asset Management acquired 2.76 million units in UI Boustead REIT for S$2.23 million, or approximately S$0.81 per unit, increasing its deemed interest from 93.16 million units (6.82%) to 95.92 million units (7.02%). The purchase lifted the fund manager above the 7% substantial unitholder threshold.
Amova had first emerged as a substantial unitholder in March with a 5.1% interest and subsequently increased its deemed interest to 6.38% in May.
6. $Aedge Group(XVG.SI)$
Aedge completed its proposed placement of 16.7 million new shares at S$0.21 per share on 6 August, increasing its issued share base from 161.9 million shares to 178.6 million shares. The placement shares are expected to list on Catalist on or around 7 August and rank pari passu with existing shares, except for distributions with record dates on or before completion.
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The insider purchase is interesting because CEO/major shareholder Tang Ying increased her direct stake from 51.7% to 55.02% right on the first trading day. That’s a meaningful vote of confidence, especially after the company raised about S$20.1 million from its IPO.
More importantly, the growth story is not just about the insider buying. All-Link is targeting ASEAN supply-chain growth, with Vietnam and Thailand highlighted as key expansion markets, while investing in technology and digital capabilities.
My take: ALK has the most interesting combination of insider conviction + ASEAN logistics growth + relatively fresh IPO story among the names listed. But because it just listed, I’d treat it as a high-risk small-cap watchlist stock, not chase it purely because of the insider purchase.
**My pick: ALK — interesting risk/reward, but wait for the market to prove the story.**
@SGX_Stars