Yoma’s stock price surge triggers SGX query

The Singapore Exchange Regulation (SGX RegCo) has issued a query to Yoma Strategic Holdings after the company’s shares spiked from its previous close of16.7 cents.

Yoma Strategic was also the second-most traded counter on the SGX-ST as at 3.54pm, with 58.5 million shares changed hands. A total of 11.5 million shares in Yoma Strategic changed hands the day before (on April 5).

Sembcorp Marine (SembMarine) was the most heavily traded counter with 104.6 million shares changed hands.

In its filing as at 3.18pm on April 6, the market regulator has asked Yoma Strategic to reveal any possible explanation for the trading. It has also asked the company to confirm its compliance with the Mainboard listing rules.

In its response just over two hours later, Yoma says it is not aware of what might have caused the trading and that it believes it is in compliance with the relevant rules.

Yoma, with its focus on Myanmar, has been hit after the military coup early last year.

Yoma shares closed April 6 at 18 cents, up 8.38% for the day and up 39.23% year to date.

Source: The Edge

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