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Medtecs International receives SGX query after 18.9% surge in share price

Felicia Tan
Felicia Tan10/18/2022 10:46 AM GMT+08  • 1 min read
Medtecs International receives SGX query after 18.9% surge in share price
On Aug 14, Medtecs reported a loss of US$3.7 million ($5.3 million) for the 1HFY2022 ended June 30. Photo: Medtecs International
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The Singapore Regulation (SGX RegCo) issued a query to Medtecs International after shares in the company traded at 14.5 cents, 2.3 cents or 18.9% higher than its closing price of 12.2 cents per share on Oct 17.

In its query at 9.57am on Oct 18, the market regulator noted the “unusual price movements” and asked Medtecs to release any information, if any, that may have contributed to the share price increase.

SGX RegCo also sought to confirm Medtecs’ compliance with the listing rules.

On Aug 14, Medtecs reported a loss of US$3.7 million ($5.3 million) for the 1HFY2022 ended June 30, versus earnings of US$19.1 million in the corresponding period the year before.

As at 10.44am, shares in Medtecs are trading 2 cents higher or 16.4% up at 14.2 cents.

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