CFA Society Singapore
SINGAPORE (Sept 13): Venture Corp said it was not aware of any information not previously announced or any other possible explanation that could explain the unusual trading activity of its shares on Thursday.
The contract manufacturer was responding to a query by the Singapore Exchange after shares of the counter fell as much as 6% to a one-year low of $15.85, with nearly 2.7 million shares traded at the closing bell. On April 13, the stock had surged to an 18-year high of $29.51.
Venture noted that as the stock just went ex-date on Sept 5 for the interim dividend of 20 cents per share which would be paid out on Sept 19 and that the share transfer books and register of members were closed from 5 pm on Sept 7 until Sept 10 for the preparation of dividend warrants and to determine shareholders’ entitlements to the one-time interim dividend
However, analysts said Wednesday remarks by the chief of the US Food and Drug Administration that flavoured e-cigarettes could be banned might have triggered the stock’s fall.
Venture is said to be a manufacturer of Philip Morris' smokeless-tobacco device, reportedly making up for 12-18% of group revenue.