Sevens Atelier has triggered a query by the Singapore Exchange S68 Regulation (SGX RegCo) after shares in the company surged by 150% to 5.5 cents as at Sept 5, from its last closed price of 2.2 cents.
This was deemed a month-long high as shares in Sevens Atelier 5EW were trading as low as 1.5 cents after releasing its 1HFY2024 results ended June 30.
The query was issued at 11.13am on the same day when shares in the company rose to 7.7 cents, 250% higher than its last-closed price. Shares in Sevens Atelier then climbed to an intra-day high of 10.2 cents at around 11.18am.
In its filing, SGX RegCo asked the group to release any information or possible explanations regarding the “unusual price movements” and to confirm its compliance with the Catalist listing rules.
In an update issued after the close of the market, Sevens Atelier said that the company is not aware of any possible explanation for the trading other than information previously announced concerning the company or its subsidiaries. The company maintains it is in compliance with the listing rules.
Shares in Sevens Atelier closed at 3.3 cents higher or up 150% at 5.5 cents on Sept 5.
See also: China International Holdings triggers SGX query after shares surge over 116% (update)
