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mDR Limited, an after-market service provider for mobile phones and consumer electronics products, said that increased trading activity on Wednesday could be because the company is currently in discussions over a potential material acquisition.
In response to queries from the Singapore Exchange, mDR added: "As the discussions are ongoing and incomplete, and as there is no certainty or assurance that the potential material acquisition will be proceeded with, shareholders and potential investors are advised to exercise caution when dealing in the shares of the company."
More than 55 million mDR shares changed hands over the course of the day's trading, before mDR's share price closed unchanged at 0.6 Singapore cent per share.