Singapore Press Holdings (SPH) has received a query from the Singapore Exchange Regulation (SGX RegCo) after its shares spiked to $1.17 as at 1.56pm.

During the day, around 75.5 million shares changed hands, making SPH one of the top five traded counters on SGX.

SPH has since replied the market regulator that the company is “in compliance” with the rules and that it “regularly evaluates all opportunities across its portfolio with the objective of enhancing shareholder value”, but that there is “no assurance” that any transaction will materialise or that any “definitive or binding agreement will be reached”.

As at 4.16pm, shares in SPH are trading 20 cents higher or 19.0% up at $1.25.

See:UOB Kay Hian maintains its 'hold' call on SPH for undemanding valuation and uncertainty on impact of its property assets