The Singapore Exchange S68 Regulation (SGX RegCo) has issued a query to Ho Bee Land H13 after noting “unusual price movements” in the latter’s shares on June 19.
At around 2.34pm, shares in Ho Bee Land surged to $2.415, 35.5 cents or 17.2% higher than its last-closed price of $2.06 on June 18. Shares in the company then climbed slightly higher, reaching an intra-day high at $2.42 before hovering around $2.30 to $2.33.
In its query, SGX RegCo asked Ho Bee Land if it was aware of any information that could’ve brought about the share price hike. It also asked Ho Bee Land to confirm that it was in compliance with the listing rules.
As at 4.53pm, shares in Ho Bee Land are trading 25 cents higher or 12.14% up at $2.31.
Update
Ho Bee Land has issued an update after market hours to say that it is not aware of any information that has caused the unusual hike in its share price.
