Hsieh Fu Hua, lead independent director of newly-listed UltraGreen.ai, bought 180,000 shares from the open market on Dec 9 at US$1.39 each.
Previously, Hsieh, a former CEO of SGX, did not hold any UltraGreen.ai shares, which were sold at its recent IPO at US$1.45 each.
UltraGreen.ai made its trading debut on Dec 3. It reached as high as US$1.62 in the initial minutes of trading but subsequently dropped to as low as US$1.31 on Dec 8, before recovering slightly to close at US$1.42 on Dec 9.
Separately, Citibank, which helped manage the listing, on Dec 9 bought 2.65 million shares as part of its post-IPO stabilising mandate. Citi paid between US$1.37 and US$1.42 for each of the shares.
On Dec 8, when Ultragreen.ai suffered from heavier selling, Citibank bought 6 million shares at between US$1.31 and US$1.45 each.
On Dec 4 and 5, Citi bought 1.82 million and 5 million shares, respectively.
See also: UltraGreen.ai ID Hsieh buys more shares; stabilising action completed
In total, as of Dec 9, a total of 15.47 million shares had been bought as part of the stabilising mandate, out of a total of up to 20.69 million shares.
