‘Show me’ market: UltraGreen.ai should ditch its share buybacks for proactive engagement

[SINGAPORE] As shares of UltraGreen.ai tumbled last month amid concerns of looming competition in its key market, the company has sharply increased the pace of its share buybacks.

During the month of August alone, UltraGreen.ai scooped up nearly 2.2 million shares from the market for US$1.6 million, or US$0.748 apiece. This was more than twice the number of shares repurchased by the company during the preceding months of the year.

In fact, it was the 11th-largest share buyback by an issuer with a primary listing in Singapore during the month, according to data compiled by the Singapore Exchange (SGX).