The market regulator has asked the company if it is aware of any information that could cause the spike in price and trading volume. It has also asked the company to confirm its compliance with the listing rules.
Singapore Exchange Regulation (SGX RegCo) has issued a query to Raffles Education after its shares spiked up to as high as 15.1 cents on September 8, at 2.33pm, representing a 32.5% jump from its last closed share price of 11.4 cents the day before.
During the period, around 5.6 million shares changed hands, compared to the 755,000 units traded on September 7.
