Shares in Sunrise Shares saw significant rise; prompts SGX query

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Shares in Sunrise Shares, the distributor of electrical distribution and control equipment, have risen some 119.4% on September 2 to close at 6.8 cents with some 72.8 million shares traded, reaching a 52-week high.

The stock opened at 3.3 cents in the morning and activity spiked from 2.00pm in the afternoon, prompting a query from Singapore Exchange (SGX).

Sunrise Shares have yet to respond the SGX queries, which were posted at 5.08pm the same day.

Prior to September 2, the group did not make any significant announcement. Its latest announcement was released on Aug 31, regarding an individual Cheung Chi Hung has transferred his shareholding in Sunrise Shares to All Powerful Universe Investment Limited, which Cheung holds a 100% interest in.

Cheung owns a 14.8% stake in Sunrise Shares.

YTD, shares in Sunrise Shares have surged some 580% from just 1 cent early this year.

Shares in Sunrise Shares saw significant rise; prompts SGX query

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