Vicplas International, the manufacturer of PVC pipes, pipe fittings and electrical conduits for the medical and building industries, has prompted a query from the Singapore Exchange Regulation (SGX RegCo) following a 40.24% surge in its share price to 58 cents as at 3.20pm, from its opening price of 41 cents on August 21.
As at 4.43pm, shares in the company were trading at 59 cents, up 47.5% from its previous close of 40 cents.
The market regulator at 3.21pm asked if the company had any knowledge of its “unusual” price movements in its shares.
It also asked if Vicplas knew of any other possible explanation for the trading, including public circulation of information by rumours or reports.
In the same announcement, SGX RegCo noted that this is the second query issued to the company in the past one month. It has requested for Vicplas International to respond immediately and ensure accuracy in its answer to the market regulator.
