KUALA LUMPUR (Oct 15): Amtel Holdings Bhd, whose share price has surged 54% in the past one week, said today that it is unaware of the reason behind the sudden jump in its share price. 

In response to an unusual market activity query from Bursa Securities issued today, the ICT company said it has made enquiries with its directors, major shareholders and other relevant persons but could not find the reason behind the unusual movement in its share price.

Amtel also said there is no corporate development relating to its business and affairs that has not been previously announced, adding it is in compliance with Bursa's listing rules.

It is also not aware of any rumour or report concerning the business and affairs of the group, or any other possible explanation that may account for the trading activity.

Amtel shares, which were trading at 80 sen apiece on Oct 7, closed at RM1.23 today after jumping 29.5 sen or 31.6% in just one day. 

It saw 1.02 million shares traded — far above the average 65,780 shares seen in the past 200 days. At its current price, Amtel has a market capitalisation of RM66.66 million.