WEBULL

Cortina Holdings Limited (SGX:C41) surges 11%; private companies who own 51% shares profited along with insiders

Simply Wall St · 05/29 23:24

Key Insights

  • The considerable ownership by private companies in Cortina Holdings indicates that they collectively have a greater say in management and business strategy
  • The top 3 shareholders own 59% of the company
  • 38% of Cortina Holdings is held by insiders

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A look at the shareholders of Cortina Holdings Limited (SGX:C41) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are private companies with 51% ownership. Put another way, the group faces the maximum upside potential (or downside risk).

While private companies were the group that reaped the most benefits after last week’s 11% price gain, insiders also received a 38% cut.

Let's take a closer look to see what the different types of shareholders can tell us about Cortina Holdings.

Check out our latest analysis for Cortina Holdings

ownership-breakdown
SGX:C41 Ownership Breakdown May 29th 2025

What Does The Lack Of Institutional Ownership Tell Us About Cortina Holdings?

We don't tend to see institutional investors holding stock of companies that are very risky, thinly traded, or very small. Though we do sometimes see large companies without institutions on the register, it's not particularly common.

There are many reasons why a company might not have any institutions on the share registry. It may be hard for institutions to buy large amounts of shares, if liquidity (the amount of shares traded each day) is low. If the company has not needed to raise capital, institutions might lack the opportunity to build a position. It is also possible that fund managers don't own the stock because they aren't convinced it will perform well. Institutional investors may not find the historic growth of the business impressive, or there might be other factors at play. You can see the past revenue performance of Cortina Holdings, for yourself, below.

earnings-and-revenue-growth
SGX:C41 Earnings and Revenue Growth May 29th 2025

We note that hedge funds don't have a meaningful investment in Cortina Holdings. Lim Keen Ban Holdings Pte Ltd is currently the company's largest shareholder with 35% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 13% and 12%, of the shares outstanding, respectively.

After doing some more digging, we found that the top 3 shareholders collectively control more than half of the company's shares, implying that they have considerable power to influence the company's decisions.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar.

Insider Ownership Of Cortina Holdings

The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

Our information suggests that insiders maintain a significant holding in Cortina Holdings Limited. It has a market capitalization of just S$470m, and insiders have S$180m worth of shares in their own names. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling.

General Public Ownership

With a 11% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Cortina Holdings. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Private Company Ownership

Our data indicates that Private Companies hold 51%, of the company's shares. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.

Next Steps:

It's always worth thinking about the different groups who own shares in a company. But to understand Cortina Holdings better, we need to consider many other factors. For example, we've discovered 2 warning signs for Cortina Holdings (1 is significant!) that you should be aware of before investing here.

Of course this may not be the best stock to buy. So take a peek at this free free list of interesting companies.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.