Singapore Exchange Regulation (SGX RegCo) has issued a trade with caution alert on Metech International.
Shares in the company rose 51% or 12.5 cents higher from Nov 1, 2021 to Dec 21, 2021, despite the Straits Times Index (STI) declining 133.97 points or 4.2% during the period.
In response to a trading query issued Dec 20, 2021, Metech made reference to its earlier announcement on Sept 24, 2021 regarding its subsidiary’s joint venture agreement relating to the lab-grown diamonds industry and mentioned plans to seek approval at an Extraordinary General Meeting for its business diversification. Shareholders' approval was obtained on Jan 11.
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