iFAST Corporation has prompted a query from the Singapore Exchange Regulation (SGX RegCo) following an 11.28% surge in its share price to $2.17 as at 10.35am, from its opening price of $1.95 on Aug 7.

The market regulator at 10.36am asked if the company if it was aware of any information that might explain the unusual trading activity, or if it knew of any other possible explanation for the trading, including public circulation of information by rumours or reports.

SGX RegCo has also ordered iFAST Corporation to confirm that it remains in compliance of listing rules.

On July 23, iFast posted record earnings of $4.53 million due to a 21.2% y-o-y increase in net revenue and 25.8% y-o-y increase in gross revenue.

On June 18, the company announced that it is one of the digital bank applicants to meet the eligibility criteria by the Monetary Authority of Singapore (MAS) to progress to the next stage of assessment.

As at 12.12pm, shares in iFAST Corp are changing hands 23 cents higher, or 11.9% up, at $2.16.