Shares in Pan Asian surged 18.9% to 11.3 cents at 9.32am on Sept 30, prompting a query from the Singapore Exchange Regulation (SGX RegCo).
At 9.41am, the SGX RegCo issued a query to the company with regard to “unusual volume movement” in its shares.
See: Controlling shareholder of Pan Asian Holdings to potentially dispose portion of its shares to unrelated third party
The regulator has asked Pan Asian to confirm its compliance with the Catalist listing rules, and to reveal any information that may have brought about the volume surge.
As at 2.24pm, shares in Pan Asian were trading at 1.3 cents higher or 13.68% up at 10.8 cents. In this time, the counter has seen 8.9 million shares change hands, over three times higher than the 2.84 million shares that changed hands on Sept 29.
Cover photo: Pan Asian Holdings' website