Trek 2000 International surged after news that Terence Wong of Azure Capital has emerged as a substantial shareholder with a married deal at 12 cents each.
Trek 2000 reached as high as 18.8 cents before easing somewhat to close at 17.5 cents on May 13, up 50.86% for the day.
Typically thinnly-traded, more than 4.6 million Trek 2000 shares changed hands.
The deal, pending completion, will see Wong, who is investing via one of his funds, take a stake of 7.3%, or 22,074,000 shares.
As indicated in Trek 2000's annual report, as of March 24, Ron Sim, Osim's founder, holds 9.3%; Creative Technology holds 9.09% while Kioxia Corp, formerly Toshiba's memory business, has a total interest of more than 17%.
Wayne Tan, executive chairman of the company, is the single largest shareholder with total interest of 35.54%.
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In its most recent FY2025 ended December, the company's revenue was down 1.1% to US$19.64 million.
However, thanks to significantly better gross margins as the company prioritise more profitable products and recognise other income, it was able to improve its earnings from just US$335,000 to US$4.61 million.
