MFS Technology

One of Hong Kong's largest hedge funds, PMA Capital Management, became a substantial shareholder of MFS Technology last Monday following the purchase of 2.2 million shares at $1.13 each. The trade boosted its deemed holdings to 34.5 million shares or 5.3 per cent.

The initial filing is significant as that was the hedge fund's first substantial shareholder trade in the Singapore market. The initial notice was also made after the share price fell by 12 per cent from $1.28 and after MFS Technology announced its 2Q results on May 8. The stock closed at $1.14 on Friday.