Monday, July 20, 2015

Shares Buyback

Asia Insider notes that buying fell a first in three weeks and no sales recorded based on SGX filings, amid a shortened week.

Purchases: 14 companies recorded 22 purchases of $1.15m, against 25 companies, with 60 purchases of $6.7m a week earlier.
Buybacks: 9 companies made 20 repurchases worth $0.87m, against 17 firms, 63 buybacks of $29.6m.

Notable transactions:
- PEC: Maiden buyback since listing in Aug ’09. 600,000 shares purchased between at average of 41.6¢ each. These were 85% of stock’s trading volume.

- Raffles Edu: Chairman & CEO Chew Hua Seng made first on-market trade since Dec ’14 with 50,000 shares at 30¢ each on the back of an 18% share price fell since Jan. Previously, the company bought back shares 1.77m shares in the week of 6 Jul at 30¢ each.

- Serial System: Chairman & CEO Derek Goh picked up 312,000 shares at 19¢ average. The trades were 12% of the stock’s volume. Derek Goh had previously acquired 477,000 shares at average 18.1¢ in May, and 960,000 shares in Apr at average 18.9¢.

- Ezion: Franklin Resources bought 1.07m shares at 96¢, a lower price than its April exit. This restores its status as a substantial shareholder (5.01%). Ezion’s share price has fallen 24% since the last week of April. Recent trades include Commonwealth Bank of Australia and First State Investment Management shaving some of their stakes in mid-Jun.

- Venture: Pyrford Int’l became substantial shareholder on 15 Jul, following purchase of 92,000 shares at $7.82, increasing its stake to 5.01% of issued capital. Previously, Aberdeen Asset Management filed a purchase on 6 Jul of 34,000 shares at $7.80, after selling 16.2m shares between 8 Jan and 1 Jul at $7.74 to $8.51.

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