Aspial

[SINGAPORE] Over the five trading sessions from May 22 to 28, 22 primary-listed companies conducted buybacks with a total consideration of S$88.9 million.

S$60 million is from a private placement while S$24.8 million will be obtained from a preferential offering

Under the preferential offering, 61.7 million new shares will be offered to eligible shareholders

Parent Aspial Corp divests 10 million shares, raising subsidiary’s public float above 15%

Net proceeds will be used to refinance existing borrowings and fund investments, among others

The group is eyeing access to equity and debt capital markets in a move aimed at supporting its future funding requirements

For the full year, the group’s net profit surges 514% to S$21.5 million, up from S$3.5 million.

Analysts attribute recent spikes in retail demand to wealth-preservation seeking rather than festive buying

Market watchers expect volatility in the yellow metal to continue in the near term