KUALA LUMPUR: Bursa Malaysia Securities Bhd has queried Macpie Bhd on the sharp rise in the price of its shares recently to multi-year highs.
In a statement issued on Tuesday, it pointed out to the sharp rise in price and volume of Macpie’s shares recently.
Its share price had risen from 43 sen on Nov 3 to a high of 63 sen at midday on Tuesday.
It had been on a strong upward trend since late August, rising from 11 sen on Aug 19 to a high of 57 sen on Sept 22 before shedding some of the gains before staging a recovery.
Bursa Securities queried the company where there had any corporate development relating to its business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion.
Bursa Securities also queried whether there was any rumour or report concerning the business and affairs of the group that may account for the trading activity.
Macpie, formerly known as Sterling Progress Bhd, changed its name on the April 3,2019 to reflect a change in market focus. The company has been listed on the ACE Market of Bursa Malaysia Securities Bhd since 2007.
Its core segments which are retail & distribution management and event management.