Nippecraft halts trading after SGX query on high trading volume, share price surge

CATALIST-LISTED Nippecraft : N32 0% has requested for a trading halt pending an announcement after its share price jumped more than 26 per cent on Wednesday (Jun 29). It had received a query from the Singapore Exchange (SGX) in the morning regarding “unusual volume movements” in its shares.

As at 10.07 am, the last trading time before the trading halt was called, shares of the stationery company were up 26.8 per cent or S$0.011 to S$0.05, with 15 million shares traded. No married deals were recorded.

Earlier at 9.18 am, Nippecraft had reached a Wednesday share price high of S$0.055 after 9.6 million shares changed hands. This was 34.1 per cent higher than the counter’s closing price of S$0.041 on Tuesday, where 1.2 million shares had been traded.

The Singapore Exchange Regulation issued its trading query at 9.22 am on Wednesday. It asked Nippecraft if it was aware of any unannounced information or reasons which may explain the trading activity. It also asked the company to confirm its compliance with Catalist listing rules.