A mirage? SGX RegCo urges caution on Mirach's surge

Singapore

SINGAPORE Exchange Regulation (SGX RegCo) has once again urged investors and potential investors to exercise caution when dealing in the shares of Mirach Energy, flagging that a small group of individuals were responsible for nearly 90 per cent of the buy volume of the stock for about a month.

It first flagged its concerns on Sept 24, following which Mirach's share price fell, only to rise significantly again. Between Sept 25 and Nov 5, the share price shot up from 14 Singapore cents to a high of 37 cents.