Other than that, the company has denied any information not previously announced that might explain the “unusual volume movements” as noted by the market regulator.
It adds that it is in compliance with the listing rules.
At 9.22am on June 29, SGX RegCo issued a query to Nippecraft, after shares in the company surged 26.8% to 5.2 cents from the 4.1 cents at last close.
Shares in the company surged further to an intra-day high of 5.4 cents before holdings steady at 5.2 cents from 10.12am onwards.
See also: Hotel Properties ‘not aware’ of any possible explanation for ‘unusual’ share price movements
The last time shares reached levels above the five-cent mark was in February.
Shares in Nippecraft Limited closed 1.1 cents higher or 26.8% up at 5.2 cents on June 29. The company saw some 15.03 million shares changed hands, compared to the previous day’s volume of 1.2 million.
