However, SGX RegCo said a review of the trades in Mirach Energy in this period showed that a small group of individuals was responsible for over 69% of the buy volume of the shares. It added that these individuals appear to be connected to each other.
SINGAPORE (Sept 30): Shares in Mainboard-listed Mirach Energy nosedived 23.9% to close at 14 cents on Sept 25, just a day after Singapore Exchange Regulation (SGX RegCo) urged investors to exercise caution when dealing in the counter. On Sept 26, the company’s share price plunged a further 2.3 cents, or 16.4%, to close at 11.7 cents.
In an announcement on Sept 24, the regulator noted that Mirach Energy’s share price had more than doubled from 13 cents on Feb 8 this year to close at 29 cents on Sept 3.
