Hot stock: Cogent share surge prompts SGX query (Amended)
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SHARES of Cogent Holdings surged by as much as 12 per cent on Monday to 70.5 Singapore cents, prompting a trading query by Singapore Exchange (SGX) at noon.
The mainboard-listed logistics company opened at 64 Singapore cents on Monday, and climbed to 70.5 Singapore cents just before noon. By 2.25 pm, over 1.57 million shares had changed hands, and Cogent was trading at 69 Singapore cents.
Cogent has yet to issue a response to SGX.
In September, Cogent announced that its wholly owned subsidiary, Cogent Jurong Island Pte Ltd, has received a letter of offer from JTC Corp for Phase One of the construction of the Jurong Island Chemical Logistics Facility.
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