Shares in environmental solutions provider ecoWise surged to 5.5 cents at 10.12am on May 28, 41.0% higher than the counter’s last closed price of 3.9 cents.
The company was also the second-highest traded counter, with 54.8 million shares changed hands on the same day.
Shares in BlackGold, which was seeking to conduct a $1 billion reverse takeover (RTO), was the third-highest traded counter on May 28.
SEE:ecoWise moves on from China biomass fiasco to fish feed venture
SGX RegCo, in a filing to the company at 10.14am, has asked ecoWise to reveal any information that may trigger the unusual surge in share price, as well as unusual volume movements. It has also asked the company to confirm its compliance with the Catalist rules.
As at 11.15am, shares at ecoWise were trading 1.4 cents higher or 35.9% up at 5.3 cents. The company has since requested for a trading halt pending the release of an announcement.
