Singapore Exchange has urged investors to exercise caution when trading in CEFC International’s shares.
This follows an Aug 10 announcement by CEFC that it was placing out about 705 million shares at 35 cents each.
From July 10 to Aug 6, the share price of the petrochemical and fuel oil trader has increased 10.7 times to 36.5 cents from 3.4 cents.
During that period, SGX has issued two public queries to CEFC, including one on July 21 where the company responded that it was not aware of any information about the company that was not previously announced, apart from a potential joint venture and related funding. The reply prompted SGX to issue a Trade with Caution warning.
SGX also notes that buying volume was concentrated in a small number of offshore accounts, which accounted for more than 40% of the total traded volume during the period, and is reviewing CEFC’s announcement and the trades in its shares.
SGX says it is reviewing CEFC's announcement and trades and may take action against the company to maintain a fair, orderly and transparent market.
The stock closed 2.6% higher at 39.5 cents on Thursday.
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This follows an Aug 10 announcement by CEFC that it was placing out about 705 million shares at 35 cents each.
From July 10 to Aug 6, the share price of the petrochemical and fuel oil trader has increased 10.7 times to 36.5 cents from 3.4 cents.
During that period, SGX has issued two public queries to CEFC, including one on July 21 where the company responded that it was not aware of any information about the company that was not previously announced, apart from a potential joint venture and related funding. The reply prompted SGX to issue a Trade with Caution warning.
SGX also notes that buying volume was concentrated in a small number of offshore accounts, which accounted for more than 40% of the total traded volume during the period, and is reviewing CEFC’s announcement and the trades in its shares.
SGX says it is reviewing CEFC's announcement and trades and may take action against the company to maintain a fair, orderly and transparent market.
The stock closed 2.6% higher at 39.5 cents on Thursday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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