Kim Heng has received a query from the Singapore Exchange Regulation (SGX RegCo) on May 31 after its share price climbed to a high of 6.6 cents, up 73.7% from its previous close of 3.8 cents.
The surge in share price followed an unusually high trading volume for the counter. Kim Heng closed the day as the second-highest traded stock by volume on the SGX, with as many as 71.8 million shares traded. In comparison, Kim Heng’s three-month average trading volume stands at 5.7 million shares.
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A query on Kim Heng’s trading activity was issued by SGX RegCo at 4.26pm, shortly after its share price hit the intraday high. The share price represents a new 52-week high for the counter.
SGX RegCo asked Kim Heng to reveal any information that might explain the “unusual volume movements” for its shares. It also asked Kim Heng to confirm whether it was in compliance with the listing rules.
Shares in Kim Heng closed up 2.7 cents or 71.1% higher at 6.5 cents on May 31.
