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Hot stock: Creative shares jump 24% in afternoon trade, prompting SGX query
SHARES of Creative Technology, which had remained largely flat on Friday morning, surged as high as 24 per cent or S$0.68 to S$3.52 in the afternoon.
The "unusual price movement" prompted a query from the Singapore Exchange (SGX).
The multimedia company had on Thursday evening responded to a separate SGX query on the proposed re-election of its director Ng Kai Wa, and the company's compliance with Listing Rule 720(6).
The rule states that listed firms must provide information relating to the candidate in the notice of meeting, annual report or relevant circular distributed to shareholders prior to a general meeting.
Creative has provided the relevant information in its response to SGX.
Its shares traded up S$0.66 or 23.2 per cent to S$3.50 as at 4.03pm.