The Singapore Exchange Regulation (SGX RegCo) has issued a query to No Signboard at 3.18pm on May 3 as its shares surged some 80.6% to 5.6 cents around 3.14pm from its last close price of 3.1 cents.

In its statement, SGX RegCo has asked No Signboard to confirm its compliance with the Catalist listing rules, and to announce any information that may have prompted the “unusual price and volume movements”.

SEE:Raffles Education share price surge prompts SGX query

Shares in the seafood restaurant operator surged to 5.7 cents early on in the day at 9.22am, and fell to 4 cents later on, only to rise again to its close of 5.9 cents on May 3, 90.3% higher than the 3.1 cents at close the day before.

Some 4.0 million shares changed hands on the counter on May 3, compared to the average three-month trading volume of 0.74 million shares.