Over the five sessions through to the 14 May close, 16 primary-listed companies conducted buybacks with a total consideration of S$42 million.
At the same time, more than 120 director interests and substantial shareholdings were filed for more than 50 primary-listed stocks. Directors or CEOs reported 18 acquisitions and 14 disposals, while substantial shareholders recorded 15 acquisitions and seven disposals.
1. $Aspial Lifestyle(5UF.SI)$
On 14 May, Aspial Lifestyle announced the launch of an equity fundraising to raise S$84.8 million via a private placement and a preferential offering, both priced at S$0.402 per share.
The fund raising follows a 1QFY26 business update, where revenue increased 48% and profit before tax soared 140% from 1QFY25, supported by sustained demand across its portfolio and continued growth from its Malaysia operations. Proceeds will be directed toward business expansion, investments and scaling of its pawnbroking and secured lending businesses, alongside working capital and debt repayment, while also increasing free float and supporting trading liquidity.
2. $Salt Investments^(FQ7.SI)$
On 10 May, Salt Investments completed a private placement of 1,748,233,722 new shares at S$0.00275 per share, raising gross proceeds of approximately S$4.8 million, with net proceeds of about S$4.6 million after expenses.
The placement was executed at an 8.33% discount to the last traded VWAP of S$0.003 and represented 7.2% of existing share capital. Evolve Capital Advisory acted as placement agent, with Maybank Securities as sub-placement agent. The placement drew participation from institutional investors including Ginko-AGT Global Growth Fund, Lion Global Investors and Value Partners Hong Kong, alongside corporates and high-net-worth investors.
3. $PC Partner(PCT.SI)$
On May 7 LC Capital Management Pte Ltd increased its deemed stake in PC Partner Group above the 7.0% threshold to 7.18% following the acquisition of 800,000 shares via market transactions. This builds on earlier transactions in April, where the fund manager took its interest above the 5.0% substantial shareholder threshold on April 1, and above the 6.0% threshold on April 20.
This accumulation comes alongside a strengthening operating backdrop. The FY25 performance reflects strong demand for newly launched high-end NVIDIA GeForce RTX 50 Series graphics cards, which remained the key driver of both revenue and profit contribution.
4. $Asia Vets(5RE.SI)$
On 7 May, Asia Vets saw a full transfer of control as Executive Chairman and CEO Tan Tong Guan and Tan Gee Beng Private Limited sold their combined 28.55% stake to Pan Wei in a negotiated transaction, making Pan Wei the new controlling shareholder. The stake was transferred in full through share sale and purchase agreements between the parties and completed on the same day.
This follows a period in which the group has faced a more challenging operating environment, including intensified competition, higher labour costs and increased rental expenses, alongside a goodwill impairment recognised in FY25 reflecting a reassessment of business value.
5. $Trek 2000 Intl(5AB.SI)$
Trek 2000 is best known as the inventor of the $Trek 2000 Intl(5AB.SI)$ , the pioneering USB flash storage device that helped define portable digital storage and underpin its early global profile. The group has since evolved into an IP-led, asset-light model spanning secure storage, wireless memory and Artificial Intelligence of Things (AIoT) solutions, with its value proposition anchored by a global patent portfolio and a strong balance sheet.
On 11 May, Azure Prime Fund VCC – Azure Singapore Equity Fund emerged as a substantial shareholder with a 7.3% deemed interest, comprising 22,074,000 shares under a share purchase agreement, with completion pending. As a Singapore-based investment vehicle targeting small- and mid-cap opportunities, Azure’s entry points to selective institutional positioning in a deep value counter where liquidity, balance sheet strength and potential corporate developments may support re-rating catalysts.
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