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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Singapore shares open higher on Friday; STI up 0.2%
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Singapore loses ‘world’s best airport’ crown to Qatar
Higher gross rental income, lower expenses boost CICT’s Q1 NPI by 6.3% to S$293.7 million
Stocks to watch: CICT, Seatrium, Keppel DC Reit, UOB