SINGAPORE (July 6): Hi-P International, the electronics manufacturer in the telecommunications, lifestyle, computing and automotive industries, has prompted a query from the Singapore Exchange Regulation (SGX RegCo) after its share price surged 16.8% just after the mid-day break on Monday.
The stock began the day at $1.07 per share, and advanced 19 cents, or 17.8%, to $1.26 at 2.14 pm. As at 3.25pm, the stock is trading at $1.24, which represents a 15.9% jump, with 12.59 million shares changed hands.
The market regulator at 1.36pm asked if Hi-P if it was aware of any information that might explain the unusual trading activity, or if it knew of any other possible explanation for the trading, including public circulation of information by rumours or reports.
SGX RegCo has also ordered Hi-P to confirm that it remains in compliance of listing rules.
