SINGAPORE (Oct 8): Hotel Properties (HPL) has triggered a query from Singapore Exchange Regulation (SGX RegCo), after its share price surged as much as 7.6% on heavy trading Tuesday morning.
As at 11.48am, shares in HPL are trading 22 cents higher, or up 6.2%, at $3.77. The counter has climbed 10.9% since closing at a 52-week low of $3.40 on Sept 5.
The market regulator at 10.53am asked HPL to declare whether the company was aware of any information not previously announced that might explain the “unusual price movements” in its shares.
SGX RegCo also asked if HPL was aware of any other possible explanation for the trading, including public circulation of information by rumours or reports.
In addition, it asked HPL to confirm that it is in compliance with listing rules.
In response to SGX’s query, HPL said in a bourse filing at 3.16pm that it is not aware of any information not previously announced nor any other possible explanation that might explain the unusual price movements.
The board also confirmed that the company is in compliance with the listing rules.
