SGX queries Medtecs over 'unusual volume movements'

MEDTECS International Corporation has responded to queries from the Singapore Exchange over "unusual volume movements" in the trading of its shares on Wednesday.

In a Thursday announcement just before the market opened, Medtechs said it was not aware of any information not previously announced concerning itself and its subsidiaries which might explain the trading activity.

It added it was not aware of any other possible explanation for the trading and confirmed its compliance with listing rules.

The integrated healthcare products and services provider saw 16.7 million shares exchanging hands on Wednesday to close at 3.9 Singapore cents, up 0.7 cent or 21.9 per cent.

This compares with a volume of 425,200 shares on Tuesday and 2.4 million on Monday. The week before, its trading volume ranged between 100,000 to 160,000 shares.

Medtecs shares are trading at 3.8 Singapore cents, down 0.1 cent or 2.6 per cent.