MindChamps triggers SGX query as shares plunge as much as 25%

SINGAPORE (Dec 9): Singapore Exchange Regulation (SGX RegCo) has queried MindChamps PreSchool on unusual price movements in its shares, after the counter fell as much as 24.8% on Dec 9.

Shares in the enrichment programmes provider for children opened 3.0% higher at 52 cents on Monday, from its previous close at 50.5 cents on Dec 6.

However, its share price plunged to 38 cents at around 4pm, before climbing back to 48 cents just half an hour later.

Shares in MindChamps closed down 4.0%, or 2 cents lower, at 48.5 cents on Dec 9.

Over 446,000 MindChamps shares changed hands on Monday alone – more than half of the recent monthly average.

The market regulator at 4.21pm asked MindChamps 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 MindChamps to confirm that it remains in compliance of listing rules.