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Isetan responds to SGX queries over unusual price movements

IN response to Singapore Exchange's (SGX) queries over unusual price movements on Tuesday, Isetan said on Wednesday before the market opened that it constantly explores and reviews opportunities and strategic options with regard to its assets, to enhance shareholder value and returns for shareholders.

On Tuesday, the retailer’s shares opened flat at S$4.13 before rising to as high as S$4.34 at around 3.10pm, before dipping to S$4.25 at 3.26pm. It received a trading query from the SGX at 3.03pm regarding the unusual price movements.

Isetan’s shares closed at S$4.30 on Tuesday, adding 17 Singapore cents or 4.12 per cent.

Isetan said it was not aware of any other information not announced previously concerning the company or its associated companies which might explain the unusual price movements in its shares. It was not also aware of any other possible explanation for trading.

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It also confirmed its compliance with SGX listing rules, particularly Mainboard Rule 703.