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Hot stock: Venture Corp shares jump 9.1%, queried by SGX
ELECTRONICS manufacturer Venture Corporation was queried by the Singapore Exchange on Monday for unusual price movements in its shares.
As of 2.25pm, the stock was up $1.49, or 9.1 per cent, to $17.79. It opened at S$16.40 on Monday.
This is the second query sent by SGX RegCo in the past four months. The last query was on April 20, with Venture Corp in response saying it was not aware of any previously unannounced information that could influence trading activity.
Venture Corp has yet to respond to the latest query.
In April this year, Venture Corp shares sank after American tobacco giant Philip Morris said that sales of its "heat not burn" smokeless tobacco products were not growing as fast as expected. Venture is widely believed to make the IQOS (I Quit Ordinary Smoking) for Philip Morris, a pen-shaped battery-powered tobacco device designed to release a nicotine-containing vapour.