Home Capital Insider moves

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
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

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%.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.