Photo: Fan Xianyong, CEO of The Place Holdings with Ekovest executive director Lim Chen Thai (centre) and Tan Zhiyong, CEO of MCC Land (right)
The Place Holdings received a query from market regulator Singapore Exchange Regulation (SGX RegCo) at 10.19am on Jan 25, after its shares surged 1.5 cents or 14.7% up to 11.7 cents.
The company’s share prices were hovering around the one cent-mark from January 2020 to November 2020 before climbing to a high of 5.1 cents on Dec 15, 2020.
Thereafter, shares between mid-December 2020 to mid-January were trading between three to four cents.
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Share prices from Jan 13 onwards were climbing steadily to close at 10.2 cents on Jan 22.
At market open on Jan 25, shares in The Place Holdings were trading at 11.9 cents, reaching a high of 12 cents at 10.04am.
SGX RegCo, via a statement on SGX, asked the company to confirm its compliance with the listing rules, and asked the company to announce any information that may have prompted the “unusual price movement”.
The Place Holdings, on Jan 20, appointed its executive director, Zhang Wei, as its new chief strategy officer. In his new role, Zhang will assist the executive chairman with the company’s strategic planning, growth strategy and capital planning.
On Jan 3, The Place Holdings announced that it had entered into a shareholders’ agreement with MCC Land and Ekovest Development to jointly develop a new mixed development project located next to Tanah Merah MRT interchange.
Under the agreement, The Place Holdings will acquire a 20% stake in the project.
As at 10.37am, shares in The Place Holdings are trading 1.6 cents higher or 15.7% up at 11.8 cents.
