Amova Asset Management has emerged as a substantial shareholder of Frencken Group after additional open market buying last week.
On March 30, Amova paid $5,248,084.14 for 2,478,200 Frencken shares, which works out to an average of just below $2.12 per share.
This brings Amova's stake from 4.501% to 5.081%, or 21,734,000 shares.
This also means, Sumitomo Mitsui Trust Group, which holds controlling stakes in Amova and a couple of other related entities, has seen its deemed stake in Frencken increase to 22,576,100 shares, or 5.27%.
Frencken Group, a key supplier to Dutch semiconductor capital equipment maker ASML, has been enjoying a wave of upgrades recently as analysts look forward to a stronger 2HF2026.
Separately, Amova has recently emerged too as a substantial shareholder of another company, Valuetronics Holdings.
See also: Amova emerges as substantial shareholder of Valuetronics after adding more shares at 88.7 cents each
On March 25, the fund manager paid $719,364.59 for 811,100 Valuetronics shares, which works out to around 88.7 cents per share.
From 19.9 million shares, or 4.85%, Amova now owns just over 20.7 million Valuetronics shares, or 5.05%.
Frencken shares closed at $2.03 on April 2, down 3.79% for the day but up 42.96% year to date; Valuetronics closed at 91 cents on April 2, down 1.09% for the day but up 5.81% year to date
