The Singapore Exchange Regulation (SGX RegCo) has issued a query to USP Group after shares in the company surged by over 50% on Sept 22.
The query, which noted the “unusual price movements” in the company’s shares, asked USP Group if it was aware of any information not previously announced that could’ve caused the change.
It has also asked the company to confirm its compliance with the listing rules.
As at 4.33pm, shares in USP Group are trading 4.8 cents higher or 54.55% up at 13.6 cents. Shares in the company were trading at an intraday high of 16.2 cents, nearly double the 8.8 cents at close on Sept 21, and the highest in 52 weeks.
On Aug 8, USP Group announced that it was still on SGX’s watch list.
For the 1QFY2023 ended June, the company’s earnings stood at $492,000, down 31.9% y-o-y.