Substantial shareholder abrdn on Jan 16 acquired nearly 1.03 million shares at just over $3.24 million on the open market. This works out to around $3.15 each. On Jan 18, it acquired another 249,700 shares at $769,150.90 or about $3.08 each. This brings abrdn’s total stake to more than 34.2 million shares or 11.079% — up from 9.846% before the shortfall was announced.
Fund manager abrdn has significantly raised its stake in AEM Holdings (SGX:AWX
) after the chip tester announced it had discovered a shortfall in its inventory levels which will likely reverse AEM into the red when it reports its FY2023 ended December 2023 earnings later next month.
On Jan 14, AEM spooked the market when it announced an inventory shortfall following an internal audit. In a follow-up announcement on Jan 22, the company estimates the shortfall to be between $18 million to $25 million. The amount will be booked in its 4QFY2023 earnings, which will be reported next month as part of the company’s full-year earnings.
