Two substantial shareholders of AEM Holdings have loaded up their respective stakes, taking advantage of the share price weakness following the company's full-year earnings announcement.
On March 2, the Employees Provident Fund Board paid nearly $3.1 million for 1.11 million shares, which works out to $2.78 each.
With that, the EPF now holds 28.86 million shares, equivalent to 9.35%.
Separately, Scottish fund manager abrdn on March 2 paid nearly $2.08 million for 745,900 shares, also equivalent to around $2.78 each. This brings its total stake to 25.24 million shares, or 8.179%.
Amid the weaker outlook for the semiconductor industry, AEM has guided for FY2023 revenue of around $500 million, significantly lower than FY2022 revenue of $870.5 million.
AEM shares closed March 6 at $2.86, up 2.88%.
