Just a day after Temasek, via a subsidiary entity Venezio, increased its stake in Nanofilm to 6.04% from 5.93%, its stake has decreased to 5.80%, after another entity has decided to pare down its stake.
See: Temasek's deemed interest in Nanofilm up to 6.04% from 5.93% following open market buying at $3.99 each
On Aug 26, Fullerton Fund Management Company, a fund manager that's a separately-run subsidiary of Temasek, has pared down its stake in Nanofilm to just 0.093%. It disposed of about 1.48 million shares for a consideration of $5.89 million via market transaction.
Hence, following Venezio increasing its stake on Aug 25 and Temasek's other entity SeaTown paring down its stake on Aug 18, Temasek's total deemed interest in Nanofilm as at Aug 26 stands at 5.8%.
As at Aug 26, Venezio has 5.655% in NanoFilm, while Fullerton has 0.093% and SeaTown has 0.055%.
To recap, Nanofilm was the hottest IPO last year. From an IPO price of $2.59, it hit as high as $6.67 in July before crashing by more than a third following its 1HFY2021 earnings announcement which dropped 3.1% y-o-y instead of growing as expected.
Additionally, the group saw the resignations of its COO and CEO within two months of each other.
Shares in Nanofilm closed 1.4% lower on Aug 26 at $4.35, recovering from its recent low of $3.82 on Aug 17.
Photo: The Edge Singapore/ Albert Chua
