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SGX raps YuuZoo over unbalanced announcement regarding research report

PC Lee Published on Fri, Jul 15, 2016 / 6:30 PM GMT+8

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SINGAPORE (July 15): The Singapore Exchange has publicly reprimanded YuuZoo for breach of listing rules that required a company’s announcement to be balanced and fair.

The reprimand was related to an SGX announcement YuuZoo released on May 21 last year entitled “New Edison Investment Research report on YuuZoo sees significant upside on share price”.

The description on the SGXNet announcement page and the title of YuuZoo’s news release highlighted that Edison had put a fair value of up to $1.83 on YuuZoo’s share price which was the most optimistic valuation from a range of fair values contained in the report.

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SGX raps YuuZoo over unbalanced announcement regarding research report