The Singapore Exchange Regulation (SGX RegCo) has issued a query to Ho Bee Land following ‘unusual price movements’ for its shares on June 10.
The query was triggered at 1.12pm, after Ho Bee Land’s share price reached $2.94, up 17 cents or 10.1% higher from its previous close of $2.67.
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Since then, the share price has climbed further, reaching a high of $2.99 at 2.47pm, up 32 cents or 12% higher from its previous close.
In its query, SGX RegCo asked Ho Bee Land to reveal any information that may explain the trading activity. It also asked Ho Bee Land to confirm its compliance with the listing rules.
As at 3.07pm, shares in Ho Bee Land are up 31 cents or 11.6% higher at $2.98.
Ho Bee Land has since issued a response to the query, noting that DBS Bank has initiated coverage on the company with a report issued on June 10. Apart from that, Ho Bee Land is not aware of any further information that may explain the trading.
The company also confirmed its compliance with the listing rules.
