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Hot stock: iFast up as much as 11%, cites Hong Kong e-pension news as possible reason

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Sharanya Pillai

Sharanya Pillai

Published Thu, Aug 18, 2022 · 03:01 PM
    • Lim Chung Chun, CEO of iFast Corp. iFast noted that on Aug 15, the South China Morning Post had published an article on the upcoming e-pension platform of Hong Kong’s Mandatory Provident Fund, for which the tender was awarded to PCCW Solutions.
    • Lim Chung Chun, CEO of iFast Corp. iFast noted that on Aug 15, the South China Morning Post had published an article on the upcoming e-pension platform of Hong Kong’s Mandatory Provident Fund, for which the tender was awarded to PCCW Solutions. PHOTO: IFAST

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    SHARES of wealth management platform iFast Corp soared as much as 11.1 per cent on Thursday (Aug 18), triggering a query from the Singapore Exchange (SGX) on the unusual price movement.

    The counter opened at S$4.36, up just 1.2 per cent or S$0.05. It gained momentum through the morning, and by 9.25 am, was up S$0.20 or 4.6 per cent to S$4.51. As at 11.38 am, iFast soared to S$4.79, up 11.1 per cent or S$0.48, with 736,700 shares changing hands.

    iFast’s share price has since cooled slightly, trading at S$4.74 as at 2.24 pm, up S$0.43 or 10 per cent. Some 898,500 shares had been traded with no married deals recorded, according to ShareInvestor data.

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