Samudera Shipping gets SGX trading query as shares rise as much as 10.1%

SAMUDERA Shipping Line : S56 0% was on Thursday (Jul 21) slapped with a query from the Singapore Exchange Regulation (SGX RegCo) about “unusual price movements” in its shares. 

In its query issued at 4.52pm, SGX RegCo asked if the company was aware of any possible explanation for the trading, including any information not previously announced, or the public circulation of information by rumours or reports.

Such information could include events that are “potentially material and price-sensitive” – including discussions and negotiations that might lead to joint ventures, mergers and acquisitions, or the purchase of sale of a significant asset, SGX RegCo said. 

The bourse regulator also asked the company to confirm its compliance with listing rules.

Samudera Shipping’s shares had made steady gains over the course of the day, but gained speed particularly in the second half of the trading day.

The counter closed at S$0.99 on Wednesday, and opened at S$1.00 on Thursday. According to SGX data, the stock ended the first half of the trading day at S$1.03, up 4 per cent or S$0.04 from Tuesday’s close.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

In the afternoon session, its shares rose further to touch S$1.07 at 1.50pm, up 8.1 per cent or S$0.08. 

Samudera Shipping’s shares pared some gains briefly thereafter to as low as S1.045 as at 3.32pm, but rose again to hit S$1.09 at 4.34pm, which translates to a gain of 10.1 per cent or S$0.10 from Tuesday’s closing price. 

The counter eventually pulled back slightly and ended Thursday at S$1.08, up 9.1 per cent or S$0.09. 

In a bourse filing late Thursday evening, Samudera responded to the trading query, saying it is not aware of any information not previously announced. It added that it is unaware of any other explanation for the trading.

The company also confirmed its compliance with the listing rules.