JEP Holdings has received a query from the Singapore Exchange Regulation (SGX RegCo) after shares in the company spiked some 4 cents or 10.67% to 41.5 cents on April 18.
The market regulator, at 3.16pm on the same day, issued a query to company to ask if it was in compliance with the listing rules.
SGX RegCo had also asked JEP Holdings to reveal any information that may have brought about the share price hike if any.
In its response at 7.14pm that day, JEP says it isn't aware what might have caused the unusual trading and that it believes it is in compliance with the applicable rules.
JEP Holdings last received a query from SGX RegCo on its share price movements on April 21, 2021. At the time, the company explained that it had received an approach letter from UOB Kay Hian, on behalf of UMS Holdings, that the latter intended to purchase 54.23 million shares, or 13.10% of JEP’s entire share capital.
JEP shares closed April 18 at 43 cents, up 13.33% for the day, and up 51.79% year to date.
