Ultragreen.ai’s stabilising manager buys 2.3 million shares in fifth stabilising action since IPO

[SINGAPORE] The stabilising manager of Ultragreen.ai purchased about 2.3 million shares of the counter on Wednesday (Dec 10), marking the fifth stabilising action it has taken since the medical technology company’s initial public offering (IPO) on Dec 3.

In a bourse filing, Citibank Global Markets Singapore said that it purchased them at a price range of US$1.42 to US$1.45 per share.

It is the fifth such action taken by the manager in a week, after it bought shares on Dec 4, Dec 5, Dec 8 and Dec 9.

To date, the manager bought a total of about 17.7 million shares at prices ranging from US$1.31 to US$1.45 per share.

Citigroup Global Markets Singapore previously stated it would not exceed an aggregate purchase of around 20.7 million shares, or about 18.5 per cent of the total number of offering shares.

Ultragreen.ai’s share price has fluctuated in the week since its IPO.

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On its Dec 3 debut, the counter closed at US$1.52, an increase of 4.8 per cent or US$0.07 from its offer price, with over 36.2 million shares transacted.

But it closed trading on Dec 5 at US$1.44 – just below the IPO price of US$1.45. On Dec 8, it closed at its lowest price so far, US$1.38.

Shares of the counter closed 1.4 per cent or US$0.02 higher at US$1.44 on Dec 10.