Hot stock: AEI up 19% in afternoon trade, prompting SGX query

SHARES of watch-listed AEI Corporation jumped 19 per cent on Thursday afternoon, prompting a query from the Singapore Exchange (SGX) about "unusual price movements".

The counter hit an intraday high of S$1.44 as at 1.58pm on Thursday, up 19 per cent or S$0.23, before getting the SGX query at 2.13pm. It was still trading at S$1.44 as at 3.02pm, with 1.6 million shares changing hands.

In its query, SGX asked AEI, which manufactures aluminium products, if it was aware of any information not previously announced concerning the group and its subsidiaries or associated companies which may explain the trading.

The bourse operator also asked the mainboard-listed company to confirm its compliance with listing rules, noting that this is the second query issued to the company in the past three months.