UOB, in its role as the IPO manager for Aztech Global, has purchased 10 million shares in the company at a unit price of $1.28 on March 15.
Shares in Aztech Global opened at $1.29 before trading at a high of $1.31 around 9.40am. Shares throughout the day were hovering around the $1.28 and $1.29 mark, before closing flat at $1.29.
On March 12, shares in Aztech Global opened at $1.39 before closing at $1.29, 1 cent higher above its IPO price.
Aztech Global, which launched its IPO on March 4, was previously listed as Aztech Group. Aztech Group’s founder, CEO and executive chairman Michael Mun, in 2017, launched a privatisation offer at 42 cents per share, valuing the company at about $21.42 million.
Today, Aztech Global’s IPO price at $1.28 per share has valued Aztech Global, the technology unit of Aztech Group, at $990.4 million.
See also: Aztech's Mun ditches roast duck and stays focused on electronics core, Aztech IPO more than 16 times subscribed, Aztech Global launches IPO on SGX Mainboard, to raise gross proceeds of $297.0 mil, Aztech Global files draft IPO prospectus, 18 cornerstone investors named and Aztech chairman Mun to privatise company at 42 cents per share
