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Infinio explains Monday's volume jump with exploration of fund-raising avenues
CATALIST-LISTED mineral oil and gas company Infinio Group on Monday night responded to a query from the Singapore Exchange regarding the "unusual volume movements" in its shares that day, saying that it has "continually been exploring various avenues for fund-raising from existing shareholders and third-parties".
It added, however, that no definitive agreement has been reached with any party and there is no certainty that any agreement will be reached.
"The company is unable to conclusively attribute the information disclosed above to its trading activity. Save for the foregoing, the company is not aware of any information not previously announced concerning the company, its subsidiaries or associated companies which, if known, may explain the trading."
The stock price doubled to 0.2 Singapore cent, with volume jumping about 10 times to 173.1 million, making it the most active counter on the market on Monday.