SGX: Trade with caution on Addvalue
Stock shoots up and firm is not aware of possible reasons
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lA SURGE of as much as 40 per cent in the shares of Addvalue Technologies yesterday prompted a "trade with caution" advice from Singapore Exchange (SGX), after the firm was unable to explain the share price movement in its response to an SGX query.
Shares in Addvalue - which have been extremely active in the market in recent months - closed at 13.6 cents yesterday, up 36 per cent. It was the most actively traded stock, with almost 105 million shares changing hands.
Addvalue notified the market of an SGX query over the leap in its share price around 2pm, but said later that it was not aware of any information, other than a proposed sale of its subsidiary, that would explain the jump.
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