Hot stock: Trendlines calls for trading halt after shares surge 27% on heavy volume

STARTUP incubator The Trendlines Group has requested an immediate trading halt on Thursday afternoon, pending the release of an announcement, shortly after Singapore Exchange (SGX) flagged "unusual price and volume movements" in the company's shares.

As at 12.15pm, Trendlines was up by 27.1 per cent, or 2.6 Singapore cents to 12.2 Singapore cents. The stock has now hit a new record, surpassing its 52-week high of 10.9 Singapore cents.

Some 46.3 million shares changed hands, making it the most actively traded counter on the Singapore bourse by the afternoon trade.

In a letter filed at 11.51am, the bourse operator asked Trendlines whether it was aware of any information not previously announced which might explain the trading activity. SGX also asked the company to confirm its compliance with listing rules.

Before Thursday, Trendlines' latest regulatory filing was on Dec 26, 2019, when the company announced changes in the interests of its substantial shareholders including the Bank of New York Mellon, co-founder Zeev Bronfeld, Amos & Daughters, as well as Librae Holdings.

The company has a market cap of about S$75.7 million as at Jan 2, data from SGX shows.