Yoma Strategic Holdings has triggered a query by the Singapore Exchange S68 Regulation (SGX RegCo) after shares in the company surged to an intra-day high of 11.5 cents on June 11, before ending the day at 11 cents, up 30.9%.
Shares in the company traded at 6.5 cents prior to the release of its FY2024 ended March results on May 29, in which the company posted earnings of US$21.2 million ($28.5 million), a turnaround from a net loss of US$63.3 million in the previous year.
In its query, SGX RegCo has asked Yoma to release any information that may have brought about the “unusual price movements” and to confirm its compliance with the Mainboard rules.
In an update issued at 11.43pm, Yoma said the company is not aware of any possible explanation for the trading other than the news, reports and articles in various platforms including The Edge Singapore on its FY2024 results. The company maintains that it is in compliance with listing rules.
