Silverlake Axis suffers another heavy blow

Singapore

SHARES in Silverlake Axis took another hard knock on Wednesday as the stock of the software solutions provider resumed trading after a trading halt sparked by an anonymous shortselling report. The stock closed trading at 46 Singapore cents, down 17.5 cents or 27.6 per cent. It dropped to as low as 35.5 cents, down 44 per cent, in intra-day trading. Some 80.7 million shares changed hands, making it the third most actively traded.

Last Friday, Silverlake fell as much as 27 per cent to an intra-day low of S$0.615, prompting a Singapore Exchange query. The stock was last traded at S$0.635, down 24 per cent, before an immediate trading halt called by the company at 1.20pm.