Hot stock: Aspen hits two-month high amid heavy trading, prompting SGX query

Vivienne Tay

Published Wed, Sep 22, 2021 · 10:56 AM

SHARES of mainboard-listed Aspen (Group) Holdings 1F3 : 1F3 0%hit a two-month high in early trading on Wednesday, prompting a query from the Singapore Exchange (SGX) about the "unusual price movements".

In its response to SGX’s query during the midday trading break, Aspen said it is not aware of any information not previously announced concerning the company, its subsidiaries or associates which might explain the trading. It also confirmed its compliance of listing rules.

Before the query, the Malaysian developer and glove maker jumped as much as 28.6 per cent or 3.6 Singapore cents to 16.2 cents as at 9.21am. It hit a high of 16.5 Singapore cents at 9.31am before easing to close Wednesday at 14.6 cents, up two cents or 15.9 per cent.

The counter was also the fourth most traded by volume at Wednesday's close, with 49.1 million shares changing hands. There were no married deals, according to ShareInvestor data.

On Monday, Aspen announced its glove-making subsidiary on Sept 16 obtained two 510(k) premarket notification clearances from the US Food and Drug Administration to market its nitrile examination gloves and latex surgical gloves.

The 510(k) clearances allow the company to design, manufacture and directly distribute the gloves under the "Aspen Glove" trademark and original equipment manufacturing (OEM) brand under OEM arrangements in the US.