Shares in cleaning services company LS 2 Holdings fell by 14.29% to 6.6 cents on Sept 8, prompting a query from the Singapore Exchange Regulation (SGX RegCo).
In its query, the market regulator noted that the company had seen “unusual price movements” in its shares. It further asked the company to confirm its compliance with the listing rules, as well as provide any possible explanation for the trading.
LS 2 Holdings made its trading debut on the morning of Feb 24, with its initial public offering (IPO) priced at 20 cents.
SGX RegCo had, at the time, issued a “trade with caution” alert on the counter after shares in the company surged as high as $1.60 before closing the day at 88 cents.
In its response later in the day, LS 2 says it is not aware what might have triggered the trading and that it believes it has complied with the relevant listing rules.