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Reclaims Global Limited ( (SG:NEX) ) has provided an update.
Reclaims Global’s two majority shareholders, Executive Chairman Mr. Chan Chew Leh and Executive Director and CEO Mr. Tan Kok Huat, have sold a combined 11,585,000 shares at S$0.41 each, raising about S$4.7 million from a group of prominent institutional funds and high-net-worth investors, including Areca Capital, Asdew Acquisitions, Azure Capital, ICH Synergrowth Fund and Value Partners Hong Kong. The transaction, jointly managed by SAC Capital Private Limited and Maybank Securities Pte. Ltd., reduces each founder’s stake from roughly 34% and 33.65% to 30.01% but leaves them in controlling positions, while a six-month self-imposed moratorium on further share sales is intended to signal commitment and stability. The move is aimed at broadening and enhancing the company’s shareholder base and improving trading liquidity in its shares, and comes on the back of recent contract wins totaling S$25.8 million and the S$38.8 million acquisition of a freehold commercial building near Farrer Park MRT, underscoring efforts to strengthen long-term business resilience and growth prospects.
More about Reclaims Global Limited
Reclaims Global Limited is an SGX-Catalist listed, eco-friendly integrated service provider within Singapore’s construction sector. The Group operates an integrated and synergistic business model that includes customised excavation, demolition and building construction solutions, fleet management of construction vehicles and equipment, and the recycling of construction and demolition waste, with a focus on supporting sustainable construction activity in Singapore.
Average Trading Volume: 604,287
Technical Sentiment Signal: Buy
Current Market Cap: S$72.48M
Find detailed analytics on NEX stock on TipRanks’ Stock Analysis page.