LGI Accumulates Shares in Valuetronics & iX Biopharma

sgx.com08-03

Over the five sessions, more than 50 director interests and substantial shareholdings were filed for close to 30 primary-listed stocks. Directors or CEOs reported four acquisitions and no disposals, ...

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This included CEO or director acquisitions filed for Alpha Integrated REIT, Aztech Global, iFAST Corporation and TOKU.On 28 July, iWOW Technology completed its S$15.0 million placement through the issuance of 66.7 million new shares at S$0.225 per share. The placement attracted institutional and strategic investors including fund managers under Singapore's Equity Market Development Programme, alongside investors such as Lion Global Investors, UOB Asset Management, Tokio Marine Life Insurance Singapore and Value Partners Hong Kong.  Share Buybacks In addition, the five sessions saw a dozen primary-listed companies conduct buybacks with a total consideration of S$26.7 million, a similar pace to the previous week.  Aztech Global Executive Chairman Increases StakeOn 29 July, Aztech Global Executive Chairman and Chief Executive Officer Michael Mun Hong Yew acquired 100,000 shares at an average purchase price of S$0.715 per share. Following the market purchase, Mr Mun's total interest in the company increased to 542.8 million shares, equivalent to 70.3 per cent of Aztech Global's issued share capital. The share purchase came a day after Aztech Global reported first-half 2026 net profit of S$9.4 million on revenue of S$151.4 million and declared an interim dividend of S$0.005 per share. The group also highlighted that it secured 13 new project orders and added four new customers during the first half as part of its customer and revenue diversification effort. iFAST Chairman and Group CEO Increases StakeOn 29 July, Lim Chung Chun, Chairman and Group Chief Executive Officer of iFAST Corporation, acquired 36,200 shares on the market for S$316,326, representing an average purchase price of S$8.74 per share. Following the acquisition, his total interest in the group increased to 60.1 million shares, equivalent to 19.6 per cent of the company's issued shares.The share purchase followed iFAST Corp's release of its second-quarter results on 24 July, which reported a 35.0 per cent year-on-year increase in net profit to S$29.9 million and a 32.8 per cent increase in assets under administration to a record S$36.1 billion. The group also raised its FY26 dividend guidance to at least 12.0 cents per share and declared a second interim dividend of 3.0 cents per share. LGI’s Valuetronics Purchase On 24 July, Lion Global Investors acquired 180,600 Valuetronics Holdings shares at an average price of S$1.12 per share. The purchase increased Lion Global Investors' deemed interest from 19.70 million shares (4.83 per cent) to 19.88 million shares (4.88 per cent). The transaction also lifted the OCBC’s deemed interest from 4.98 per cent to 5.02 per cent, or 20.49 million shares, resulting in the OCBC emerging as a substantial shareholder.This follows a series of stake increases by Amova Asset Management Asia, which emerged as a substantial shareholder in March after its managed portfolios crossed the 5 per cent threshold. The fund manager subsequently increased its interest to 6.11 per cent in April and 7.15 per cent in May, equivalent to 29.31 million shares.At Valuetronics' AGM on 27 July, management outlined plans to return approximately HK$300 million of surplus cash to shareholders over FY27 and FY28 through a combination of special dividends and share buybacks. Management indicated that HK$66 million has been earmarked for the FY26 special dividend and that not less than HK$80 million will be deployed under the initial share buyback programme, with the balance of the HK$300 million capital return programme available for further special dividends and/or share buybacks over FY27 and FY28. The programme reflects the Board's assessment of the Group's strong financial position and cash flow generation, with management highlighting a disciplined capital allocation framework that balances shareholder returns with working capital, capital expenditure, financial resilience and strategic growth requirements.The company also raised its ordinary dividend payout target to 50 per cent-70 per cent of net profit attributable to shareholders, up from the previous 30 per cent-50 per cent range. Including the proposed final and special dividends for FY26, total dividends amount to HK38 cents per share, representing a 41 per cent increase from the 27 HK cents paid for FY25.Management highlighted that despite a 4.0 per cent decline in FY26 revenue to HK$1.66 billion, gross profit increased 6.3 per cent to HK$312.1 million and gross margin expanded to 18.8 per cent from 17.0 per cent. Excluding the impact of the Trio AI investment, adjusted profit before income tax improved to HK$179.1 million from HK$174.7 million in FY25, reflecting resilience in the Group's core electronics manufacturing services business. Revenue mix also continued to shift toward the Communication Electronics segment, which accounted for 87.1 per cent of group revenue in FY26 compared with 78.8 per cent in FY25. LGI’s iX Biopharma Purchase On 22 July, Lion Global Investors acquired 3.71 million iX Biopharma shares. The purchase increased Lion Global Investors' deemed interest from 49.54 million shares (4.54 per cent) to 53.25 million shares (4.87 per cent). The transaction also lifted the OCBC's deemed interest from 4.71 per cent to 5.04 per cent, or 55.15 million shares, resulting in the OCBC emerging as a substantial shareholder.The stake increase follows a series of strategic developments for iX Biopharma. In February, the specialty pharmaceutical company completed a placement of 75.8 million new shares, raising gross proceeds of at least S$6.0 million. Cash and cash equivalents increased to S$15.9 million as of 31 March 2026, while net assets improved to S$17.0 million from S$0.4 million at the end of FY25. Working capital also improved to a surplus of S$11.3 million from a deficit of S$4.8 million.At its July corporate briefing, management highlighted continued progress for Wafermine, its proprietary sublingual ketamine wafer being developed for acute moderate-to-severe pain. The programme has completed its End-of-Phase II meeting with the US FDA and is progressing toward Phase III development. Management disclosed that OPMED is expected to provide approximately US$34.3 million of funding for Phase III studies, while iX Biopharma retains product rights and sponsorship. In February, the company also announced a US$40.95 million US Department of Defense contract to further develop Wafermine for potential battlefield deployment under an Emergency Use Authorization pathway.The company has approved the relocation of key manufacturing equipment from Australia to a US facility in Nevada. Management noted that the move supports Buy American Act requirements, accelerates manufacturing readiness for Wafermine and provides access to additional pharmaceutical manufacturing opportunities in the US market. iX Biopharma will retain ownership of the equipment and underlying intellectual property.For the nine months ended 31 March 2026, revenue declined 14 per cent year-on-year to S$4.76 million. However, gross profit increased 7 per cent to S$1.42 million and gross margin expanded to 30 per cent from 24 per cent, reflecting an improved product mix. The net loss narrowed to S$2.97 million from S$8.44 million a year earlier, while adjusted EBITDA loss improved to S$1.66 million from S$1.92 million.Management continues to position iX Biopharma around its WaferiX drug-delivery platform, which supports more than 40 pharmaceutical development programmes spanning pain management, peptides, hormones and metabolic health. Recent developments include a strengthened balance sheet, Phase III funding support for Wafermine, progress toward US manufacturing capability and a Department of Defense-backed development programme. Aedge: Funding Property Expansion & Recurring Income GrowthAedge Group has proposed a placement of 16.67 million new shares at S$0.21 per share to raise gross proceeds of approximately S$3.5 million. The new shares will account for approximately 9.3 per cent of the enlarged share capital. Aedge's previous placement was in May 2025, when it issued 1.95 million new shares at S$0.26 per share to raise gross proceeds of S$507,000. Aedge intends to allocate approximately 50 per cent of the net proceeds towards expanding its investment properties division and the remaining 50 per cent towards working capital. The company also cited broadening its shareholder base and potentially improving trading liquidity as objectives of the placement.The placement follows the group's continued expansion of its industrial property portfolio, including the June 2026 acquisition of 219 Kallang Bahru, its third industrial building acquisition. Aedge's 1HFY26 (ended 31 December) saw revenue increase 30.2 per cent year-on-year to S$17.3 million, while gross profit more than doubled to S$3.5 million and net profit attributable to shareholders reached S$1.1 million, compared with a loss of S$0.5 million a year earlier. Management was cautiously optimistic on 2HFY26, citing recent contract wins across its engineering, transportation and security businesses, alongside the expected operational commencement of a second worker dormitory which will more than double the group's bed capacity and further increase recurring rental income. As of 31 December, Catalist-listed Aedge reported investment properties with a carrying value of S$19.4 million and an assessed fair value of approximately S$26.0 million. Share Buybacks by Primary-listed Companies by way of Market Acquisition (July 24 to 30)Number of Shares/Units Purchased Buyback Consideration (incl stamp duties & clearing charges) S$   Avg price paid per share S$SINGAPORE TELECOMMUNICATIONS 4,711,10020,719,5824.40KEPPEL 200,0002,322,71911.61THE HOUR GLASS 427,8001,177,1952.75RAFFLES MEDICAL GROUP 1,000,000890,5630.89RECLAIMS GLOBAL 2,177,000460,1560.21ADDVALUE TECHNOLOGIES 2,720,600405,2960.15VALUETRONICS HOLDINGS 300,000314,5701.05STAMFORD LAND CORPORATION 369,000181,3340.49CHUAN HUP HOLDINGS 380,800102,9960.27OXLEY HOLDINGS 1,300,00097,6140.08SINGAPORE SHIPPING CORPORATION 100,00029,5290.30KARIN TECHNOLOGY HLDGS 41,00010,8950.27Total13,727,30026,712,448 Inside Insights is a weekly column on The Business Times, read the original version.Enjoying this read?Subscribe now to our SGX My Gateway newsletter for a compilation of latest market news, sector performances, new product release updates, and research reports on SGX-listed companies.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.47.1","shortVersion":"4.47.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2656588146","isCrawlerRequest":true}