Jade Marvel unaware of reason for spike in share price, volume

Jade Marvel said it had on April 13 announced it plans to undertake a private placement.

KUALA LUMPUR: Jade Marvel Group Bhd, whose share price surged to an intra-day high of RM1.30 in active trade last Friday and prompted a query from Bursa Malaysia Securities, replied it was unaware of the reason for the unusual market activity.

In its response on Monday, it said there was no any other corporate development relating to the group’s business and affairs that has not been previously announced that may account for the trading activity.