Frencken (SGX:E28
) announced that its substantial shareholder, Amova Asset Management, has acquired 1,007,800 shares back on June 2.
In the SGX filing dated June 5, the shares were purchased for a total consideration of $2,638,650.96, which excludes brokerage and stamp duties. This translates to an average price of around $2.62.
With this latest transaction, this brings Amova’s stake in Frencken from the previous 5.88% to 6.11%.
Shares in Frencken closed 8 cents lower, or 2.67% down at $2.92 on June 5. On a year-to-date basis, Frencken’s share price gained 111.59%.
