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UMA Parkson says unaware of reason behind share price, volume spike

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UMA Parkson says unaware of reason behind share price, volume spike

Post by Cals Fri 01 Apr 2016, 08:16

UMA

[size=28]Parkson says unaware of reason behind share price, volume spike

By Supriya Surendran / theedgemarkets.com | March 31, 2016 : 7:13 PM MYT

KUALA LUMPUR (March 31): Parkson Holdings Bhd, which has been issued an unusual market activity (UMA) query by Bursa Malaysia after its share price spiked as much as 20.22% this morning, said it is unaware of the reason behind the sharp rise in its share price and volume.

In its bourse filing today, Parkson said it was not aware of any corporate development, rumour, report or any other possible explanation for the rise in its volume and share price.

"Further, the board wishes to confirm that the company is in compliance with the Bursa Securities' Main Market Listing Requirements in particular Paragraph 9.03 of the Listing Requirements on immediate disclosure obligations," said the company.

In the UMA query, Bursa asked Parkson if there was any corporate development, business negotiation rumour, or report or any other possible explanation that could account for the hike in share price and volume in the UMA query.

The stock rose as high as 18.5 sen to RM1.10 before paring some gains and closing at RM1.03 at the end of trading hours, still up 11.5 sen or 12.6%, after some 23.42 million shares changed hands, valuing it at RM1.09 billion.
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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