The Singapore Exchange Regulation (SGX RegCo) has issued a query to Excelpoint Technology at 4.30pm on May 21 as its shares surged 14.2% to 80.5 cents as at 4.26pm.
SGX RegCo called out the electronics components distributor’s “unusual volume movements” in its shares and asked the company to announce any information that may have prompted the trading.
It has also asked Excelpoint to confirm its compliance with the listing rules.
See also: Hotel Properties ‘not aware’ of any possible explanation for ‘unusual’ share price movements
Shares in Excelpoint closed 10.5 cents higher or 14.9% up at 81 cents on May 21 with 976,600 shares changed hands.
