SGX: 91 error trades in New Silkroutes shares

Singapore

SINGAPORE Exchange (SGX) declared 91 trades on Wednesday involving 52.3 million shares of New Silkroutes Group as "error trades" resulting from confusion over the recent consolidation of the company's shares, according to a statement by the market operator.

Market sources told The Business Times on Wednesday that more than 50 million shares of New Silkroutes, an energy, healthcare and technology company, had been matched at about 1.5 Singapore cents close to the opening bell.

That price was way below New Silkroutes' post-consolidation intraday high of 59.5 Singapore cents on Wednesday. The stock closed at 49 Singapore cents in its first day of trading following a 500-into-one share consolidation. On Tuesday, the stock closed at 0.1 Sin…