Parkson Retail Asia has triggered a query from the Singapore Exchange Regulation (SGX RegCo) after shares in the company closed 2.2 cents higher or 55% up at 6.2 cents.
Shares in Parkson Retail Asia were also the highest traded counter on the SGX, with 99.6 million shares changed hands, compared to the previous day’s volume of 10.1 million.
In a bourse filing on Aug 4, the market regulator noted the “unusual price movements” and asked the company to confirm its compliance with the listing rules.
SGX RegCo had also asked Parkson Retail Asia to reveal any information that may have brought about the surge in its share price.
In its reply to the queries posted just after ten pm on Aug 4, Parkson Retail says it is not aware what might have caused the movements and that it believes it is in compliance to relevant rules.
At 5.02pm, shares in Parkson reached an intra-day high of 6.5 cents, reaching a 52-week high for the counter.
