KUALA LUMPUR (Oct 12): Asiamet Education Group Bhd said it is unaware of any possible explanation for the surge in the trading activity of its shares, which had boosted its share price.

There are no unannounced corporate developments, rumours or reports concerning its business that could have accounted for the unusual trading activity, the group said in an announcement to Bursa Malaysia.

Shares in Asiamet had surged as much as 11 sen or 61.11% to 29 sen before the noon break today. The counter later pared gains to close at 25 sen, leaving it with a market capitalisation of RM102.48 million.

Shares of its 21.1% shareholder, SMRT Holdings Bhd, also rose as much as 6 sen or 31.58% to 25 sen before closing at 22 sen

Last month, shareholders of Asiamet approved the group's acquisition of CUCMS Education Sdn Bhd from SMRT via an issuance of 830 million shares at 20 sen apiece to SMRT's wholly-owned subsidiary, SMR Education Sdn Bhd.

Shareholders also approved the proposed delisting of Asiamet and a one-for-one share exchange with Minda Global Sdn Bhd, which will take over Asiamet's listing status and serve as Asiamet group's holding company.