Nanofilm says it will improve communication with the market to align views

THE sell-off in Nanofilm Technologies' shares following its half-year results came as a surprise to the company, with founder and executive chairman Shi Xu saying that there are gaps to be plugged when it comes to communicating with the market.

In a briefing on Wednesday, Dr Shi said that the company did not expect "such drastic results" after the release of its financial statements.

Nanofilm's MZH shares lost almost a third of its value on Monday, which prompted a series of share buybacks. According to filings on the Singapore Exchange (SGX) as at Wednesday 8.30pm, the company had spent about S$16 million to buy back over 3.9 million shares since Monday.