HCK queried over unusual share surge
KUALA LUMPUR: Bursa Malaysia has issued an unusual market activity query to HCK Capital Group Bhd over the surge in its share price yesterday.
The company’s shares rose 25.25 per cent to RM1.24 in the afternoon from Wednesday’s close of 99 sen. It hit an intraday high of RM1.29 at 2.45pm with a market value of RM522.3 million.
The stock fell 80.93 per cent to RM1.03 on August 1 from the preceding day’s close of RM5.40.
“We draw your attention to the sharp rise in price of your company’s shares today,” Bursa Malaysia told HCK.
HCK ended 26.26 per cent higher to RM1.25 with 622,600 shares traded yesterday.
Meanwhile, HCK said it was not aware of any cues that might have contributed to the unusual activity.
“The company would like to confirm that this is to the best of its knowledge and after making due enquiry with the board of directors, major shareholders and other relevant persons seeking the cause of the subject matter of the query,” it told Bursa Malaysia yesterday.