Aspen Group has triggered a query from the Singapore Exchange Regulation (SGX RegCo) after its shares spiked by 55.9% to trade at 5.3 cents from its last-closed price of 3.4 cents.
In its filing at 9.42am, the market regulator noted Aspen’s “unusual volume movements” and asked the group to release any information that may have brought about the trading. It has also asked Aspen Group to confirm its compliance with the listing rules.
Shares in Aspen Group rose steadily since the market opened, reaching an intra-day high of 5.3 cents so far.
The company’s shares are also the most heavily traded among counters on the SGX-ST.
As at 10.06am, shares in Aspen are trading 1.6 cents higher or 47.06% up at 5 cents with 18.3 million shares changed hands. Only 828,000 shares in Aspen changed hands as at the close of the market on Dec 28.
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Aspen Group, at 12.17pm, responded to say that the group is not aware of any information that could have triggered the unusual volume movements.