Shares in Catalist-listed Sinjia Land rose to 3 cents after markets opened this morning, climbing 11.1% from its previous close of 2.7 cents.
See: Sinjia Land to buy 80% stake in G4 Station; diversify into property business
Trading activity for the shares prompted a query from the Singapore Exchange Regulation (SGX RegCo) at 9.08am, who noted ‘unusual volume movements’. As of 10.19am, 17.56 million Sinjia Land shares have been traded. For comparison, Sinjia Land’s average monthly traded volume over the last three months stands at 3.36 million shares.
In its query, SGX RegCo requested Sinjia Land to disclose any information that explains the trading. It also asked the company to confirm its compliance with the listing rules.
As at 10.19am, Sinjia shares are up 0.2 cents or 7.41% higher at 2.9 cents.
