Stocks to watch: Yangzijiang Financial, Aspen, Asti

THE following companies saw new developments that may affect trading of their securities on Thursday (Jun 9):

Yangzijiang Financial Holding (YZJFH): The Catalist-listed spin-off from Yangzijiang Shipbuilding is buying back up to S$200 million worth of shares, after shareholders voted in favour of the share buyback mandate at a Jun 8 extraordinary general meeting. The current intention is for any share repurchased via the programme to be held as treasury. Shares of YZJH closed flat at S$0.525 on Wednesday, before the news.

Aspen (Group) Holdings : Its glove making unit Aspen Glove on Wednesday said it will significantly scale down its operations amid increasing headwinds for the medical glove market, and further margin compressions from falling average selling prices and rising production costs. Shares of Aspen closed flat at S$0.06 on Wednesday, before the announcement.