A 25% surge in Catalist-listed Shen Yao Holdings’ share price to 1 cent on May 7 from its last close of 0.8 cents following high trading volume has prompted a query from the Singapore Exchange Regulation (SGX RegCo) on its trading activity.
The 1 cent share price represents a new 52-week high for the gold-mining company. Its 6-month unadjusted volume-weighted average price stood at 0.37 cents as of May 7.
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The query came in at 3.57pm following the jump in share price to 1 cent around 2.14pm, with SGX RegCo asking the company to reveal any information that may have brought about the unusual volume movements.
Shen Yao Holdings was also asked to confirm its compliance with the listing rules.
After the jump to 1 cent, the company’s share price fell slightly back down to close flat at 0.8 cents.
