UMA XOX gets UMA query about sharp rise in share price, volume

by **Cals** Tue 27 Oct 2015, 00:19

UMA

[size=28]XOX gets UMA query about sharp rise in share price, volume

By Sangeetha Amarthalingam / theedgemarkets.com | October 26, 2015 : 12:34 PM MYT

KUALA LUMPUR (Oct 26): Bursa Malaysia Securities Bhd has slapped XOX Bhd with an unusual market activity (UMA) query for the second time this month on its sharp rise in share price and volume recently.

On Oct 5, XOX was asked to disclose whether there was any corporate development relating the group's business and affairs not previously announced that might account for the trading activity including those in negotiation and discussion stage.

Then, the group responded it was not aware of any corporate developments and rumours, or report that could account for the UMA.

Today, Bursa Malaysia prompted the same questions including if XOX was aware of any other possible explanation to account for the unusual trading activity, and if it was in compliance with the listing requirements on immediate disclosure.

Year-to-date, XOX's shares have skyrocketed between 235.7% and 370%, while the stock has appreciated 88% since the start of October.

At 11.46am, the mobile operator in postpaid, prepaid and hybrid services rose 2.17% to 23.5 sen with 24.87 million shares traded before the counter turned flat, for a market capitalisation of RM76.4 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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