Aoxin Q&M has triggered a query by the Singapore Exchange Regulation (SGX RegCo) after shares in the company surged by 44% to 12.1 cents as at 9.56am on July 21, from its last-closed price of 8.4 cents.
While shares in the company fell slightly to 11.3 cents, this was still deemed a month-long high since its shares fell to 8.3 cents in early July.
In its query, SGX RegCo has asked Aoxin to release any information that may have brought about the “unusual price movements” and to confirm its compliance with the Catalist listing rules.
As at 4.53pm, shares in Aoxin Q&M are trading 2.9 cents higher or 34.52% up at 11.3 cents.
/Update
In an update issued after the close of the market, Aoxin Q&M revealed that the company is exploring "potential business ventures and/or other corporate actions with the aim of enhancing [its] shareholders' value".
See also: Food Empire draws trading query from SGX (update)
"These discussions are still on-going and no definitive agreements have been executed. At this juncture, there is no assurance or certainty that any definitive agreements will be entered into or if any of such possible transactions will eventually materialise," reads the company's statement.
