Hot stock: The Place Holdings shares surge 15.7%; receives SGX query

PROPERTY business The Place Holdings (TPH) said that it is currently engaged in various discussions on opportunities and projects with no definitive agreement reached, in response to queries from the Singapore Exchange (SGX) earlier on Monday.

It is continually and actively pursuing potential investment, collaboration and expansion opportunities, and will make relevant announcements if any agreements materialise, added the group. 

Shares of TPH surged 15.7 per cent to 11.8 Singapore cents as at 10.38am on Monday, prompting an SGX query.

The counter hit an intraday high of 12.1 cents at 10.04am, an 18.6 per cent increase from its last closing price of 10.2 cents on Friday. More than 42 million shares had changed hands, at a total value of S$4.9 million.

No married deals were recorded in early trade, according to data from ShareInvestor.

SGX issued a query following the price hike, asking if the company was aware of any possible explanation for the trading activity, including any information not previously announced, or the public circulation of information by rumours or reports.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

TPH was also asked to confirm its compliance with mainboard listing rules.

The counter's shares, at a record high of 12.1 cents, has grown 120 per cent in the past week, up from 5.5 cents last Monday.

TPH’s shares closed at 12.8 Singapore cents, up 25.5 per cent or 2.6 cents on Monday.