Vard 'not aware' of reason for price plunge; SGX issues 'trade with caution' notice
Shipbuilder Vard Holdings on Wednesday afternoon said it "is not aware of any information not previously announced concerning the company, its subsidiaries or associated companies which, if known, might explain the trading."
"The company confirms that it is in compliance with the listing rules of the SGX-ST, in particular, Rule 703 regarding disclosure of material information," it said.
By 4.41pm, it had recovered some ground to S$0.335, still down 4 Singapore cents and 10.7 per cent. It had fallen as much as 28 per cent to S$0.27 in the morning, a level it had never reached before since it listed in 2010.
In response, the Singapore Exchange slapped a "Trade with Caution" notice on the counter, advising shareholders and potential investors to be careful when dealing with its securities.
It said: "The exchange will investigate all possible transgressions and will work with the relevant regulatory agencies to pursue actions to maintain a fair, orderly and transparent market."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
US: Wall St opens lower as Meta Platforms, economic data weigh