Mainboard-listed Avarga, in a response to a query by Singapore Exchange Regulation (SGX RegCo), is unaware of what might have caused the unusual spike in its share price earlier today.

However, the company is exploring a possible spin-off of its paper manufacturing business. It is also mulling a “possible transaction" which will allow it to monetise its investment in the power plant in Myanmar, says CEO Ian Tong.

“There is no assurance as to whether any transaction will materialise or as to the structure of any such transaction. The company will make appropriate announcements in the event that there are any material developments in this regard,” he adds.

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