Shares in Sino Grandness dive, sparking SGX query

Singapore

THE share price of Sino Grandness Food Industry Group plunged as much as 24 per cent on Wednesday, prompting a query from the Singapore Exchange (SGX) on the unusual price movement.

Shares of the Chinese canned fruit and vegetable supplier closed the day at 18.3 Singapore cents, down 2.7 cents or 12.9 per cent, but not before plummeting about 24 per cent to as low as S$0.16. More than eight million shares changed hands for the day, against its average three-month volume of 1.41 million shares.