The Singapore Exchange Regulation (SGX RegCo) has issued a query to Addvalue Technologies after shares in the company plunged some 46.2% to 0.7 cent as at 9.38am from the previous day’s close of 1.3 cents.
The 0.7-cent mark also represents a 52-week low.
Shares in Addvalue Tech were also the top traded counter on the SGX with 64.6 million changed hands as at 11.52am.
On Aug 16, some 40.4 million shares in the company changed hands as well.
See also: Addvalue Tech signs MOU with South Africa’s Dragonfly Aerospace to expand global market outreach
For context, shares in Yangzijiang (YZJ) has some 34.9 million shares changed hands as at 11.52am, making it the second-most traded counter on the SGX on Aug 17.
The share price movement in the company has been volatile since its near-immediate drop to 1.2 cents when the markets opened on the morning of Aug 17.
Shares rose slightly to 0.9 cent at 9.52am, before seeing another slight trough at 0.8 cent at 10.34am.
In its query at 10.05am, the SGX RegCo has asked Addvalue Tech if it was aware of any unannounced information that may have explained the “unusual volume movements”. The regulator has requested that Addvalue Tech reveal any such information “immediately” if so.
In addition, SGX RegCo has asked Addvalue Tech to confirm its compliance to the Mainboard-listing rules.
As at 11.55am, shares in Addvalue Tech are trading 0.4 cent lower or 30.8% down at 0.9 cent.
Photo: Addvalue
