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SGX RegCo slaps 'trade with caution' warning on Kitchen Culture

The Edge Singapore
The Edge Singapore8/17/2020 06:34 PM GMT+08  • 3 min read
SGX RegCo slaps 'trade with caution' warning on Kitchen Culture
The same group of traders are behind unusual price movements of Mirach Energy last year
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SGX RegCo has issued a “trade with caution” warning on loss-making Kitchen Culture Holdings, following unusual share price movements over the past few months, including a crash of nearly a third earlier today.

Just last Thursday (Aug 14), the company announced plans to buy a 30% stake in big data firm OOWAY Technology for $23.92 million by issuing 90 million new shares at 26.58 cents each.

Jim Rogers, better known as a commodities bull, is a co-founder of OOWAY Group, which is selling the stake in OOWAY Technology to Kitchen Culture. “With the complementary strengths of OOWAY and Kitchen Culture, I believe that our collaborations will yield exciting results in the future,” he said.

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