SGX queries UG Healthcare after shares surge 40.9% on the week

Published Thu, May 28, 2020 · 02:58 AM

THE Singapore Exchange on Thursday morning queried UG Healthcare about "unusual price movements" in the latter's shares recently.

In the afternoon, the Catalist-listed disposable glove manufacturer replied that it does not know of any unannounced information which might explain the share trading. However, it flagged a bourse filing on May 19 where it announced its facilities were operating at "optimum production efficiency", with a production capacity of 2.9 billion gloves per annum amid higher demand.

The counter was trading at 46.5 Singapore cents as at 3.52pm on Thursday, up 1.5 cent or 3.3 per cent on the day, with almost 18.6 million shares changing hands.

Compared with last Friday's closing price of 33 cents, UG Healthcare has climbed 40.9 per cent so far this week.

Most of the gains for the week were recorded on Wednesday, when the shares finished at 45 cents, rising eight cents or 21.6 per cent from Tuesday's close.