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Hot stock: Medtecs shares rise 12% ahead of AGM

CATALIST-LISTED Medtecs International Corporation's shares hit a high of 31 Singapore cents on Thursday, up 3.5 cents or 12.7 per cent.

The counter was the most heavily traded by volume on the Singapore Exchange, with 76.3 million shares changing hands as at 2.54pm.

Shares of the integrated healthcare products and services provider began the day at 27.5 Singapore cents and hit 31 cents at 10.14am. The price then dipped to 30 cents before the midday break, and rose again to 31 cents at 2.30pm.

Medtecs' last bourse filing on June 4 provided details on its annual general meeting, to be held on Friday at Holiday Inn Atrium. Shareholders can attend the meeting only electronically, due to coronavirus-related safeguards, as the board reiterated in an announcement on Thursday evening. They will not be allowed to attend in person.

Last month, Medtecs shares surged 42.1 per cent after the company reported a US$3.7 million jump in net profit for the first quarter ended March 31, about 16 times the profits reported a year ago.

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