Amid the weaker outlook for the semiconductor industry, AEM has given guidance for revenue of around $500 million for FY2023 ending December, significantly lower than the record $870.5 million reported in FY2022.
Two substantial shareholders of AEM Holdings have raised their respective stakes in the company, taking advantage of the weakness of its share price following the company’s full-year earnings announcement.
On March 2, Malaysia’s Employees Provident Fund Board acquired 1.11 million shares on the open market for nearly $3.1 million, which works out to $2.78 each. With the acquisition, the EPF now holds 28.86 million shares, equivalent to a 9.35% stake. Separately, Scottish fund manager Abrdn on March 2 acquired 745,900 shares on the open market for nearly $2.08 million or about $2.78 per share. This brings its total stake to 25.24 million shares or 8.179%.
