Tan Ng Kuang, an independent director of UltraGreen.ai, has added to his stake in medical company over recent two market days.
Better known as Nicky Tan, he is known for leading a boutique corporate advisory firm nTan Corporate Advisory.
On March 31, he paid an average of US$1.445 each for 20,000 shares. On April 6, he paid an average of US$1.43 for another 10,000 shares. This gives him a total stake of 80,200 shares.
Despite announcements that it has received more regulatory greenlights to enter new markets, UltraGreen.ai shares weakened in recent days, dropping to as low as US$1.43 on April 6, from the recent peak of US$1.86 on Feb 23.
Analysts covering this counter had earlier signalled that they expect UltraGreen.ai's margins to come under some pressure as the company ramps up hiring so as to develop new markets and better organise its systems.
UltraGreen.ai's IPO last December was priced at US$1.45 per share.
