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Capital Group trims stake in Nanofilm; Tang couple raises Chip Eng Seng stake

The Edge Singapore
The Edge Singapore 1/13/2022 2:16 PM GMT+08  • 4 min read
Capital Group trims stake in Nanofilm; Tang couple raises Chip Eng Seng stake
Nanofilm has been buying back shares
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US fund manager Capital Group, a substantial shareholder of Nanofilm Technologies International, has reduced its stake in the company. On Jan 4, it sold 334,7000 shares at $3.77 each. It now holds a deemed stake of around 39.4 million shares or 5.99%, down from 6.05% previously.

In contrast, Shi Xu, the company’s founder and executive chairman, on Oct 14, 2021, had acquired 200,000 shares for $741,580 or $3.7079 each. The company recently bought back shares as well. On Jan 11 and 12, it acquired 500,000 shares for between $3.36 and $3.48 each and 500,000 shares for between $3.44 and $3.50 each respectively. On Jan 13, the company bought back yet another 500,000 shares at between $3.44 and $3.46.

On Jan 10, analysts from DBS Group Research removed Nanofilm from its list of socalled “growth” picks, having just added the counter to that list on Dec 9, 2021. Since then, Nanofilm’s shares have fallen some 11.5%.

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