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Hot stock: Infinio gains 50% to trade at 1-year high; requests trading halt
MINERAL oil and gas firm Infinio Group gained in early trading on Tuesday with its stock trading 50 per cent or 0.1 Singapore cent higher to 0.3 Singapore cent apiece.
In a Singapore Exchange (SGX) filing around noon, the company requested a trading halt, pending the release of an announcement.
The counter last traded at 0.3 Singapore cent at 11.02am. It was the most active stock on the Singapore bourse with 83.5 million shares exchanging hands.
On Monday night, the Catalist-listed company responded to a query from the SGX regarding its unusual volume movements, saying that it has "continually been exploring various avenues for fund-raising from existing shareholders and third-parties".
However, no definitive conclusion has been reached with any party and there is no certainty that any agreement will take place, Infinio said.
The counter has been trading within a one-year range of 0.1 Singapore cent to a high of 0.3 Singapore cent. Its three month average daily volume stands at 6.88 million.