PropNex’s share price shot to a high of $2.19 this morning, up 9.8% or 19.5 cents higher than the previous day’s close of $1.99.
The surge prompted the Singapore Exchange Regulation (SGX RegCo) to issue a query at 9.53am, requesting PropNex to reveal any information that may explain the “unsual” share price movements.
See also: Analysts raise PropNex target price to at least $1.19 after 1Q21 beats expectations
SGX RegCo also asked PropNex to confirm its compliance with the listing rules.
As at 11.31am, shares in PropNex are trading up 14 cents or 7% higher at $2.13.
Photo: The Edge Singapore
