KUALA LUMPUR (Sept 14): Bursa Malaysia had today issued an unusual market activity (UMA) query on the sharp rise in the share price and volume of retail and distribution management firm Macpie Bhd.
“We draw your attention to the sharp rise in price and volume of your company’s shares recently,” Bursa said.
The exchange regulator's statement was carried in Macpie’s filing on Bursa’s website.
Macpie had not responded to Bursa’s query at the time of writing.
At 4.41pm today, Macpie’s share price was up nine sen or 21.43% at 51 sen, giving it a market capitalisation of RM148.38 million.
The counter saw 75.25 million shares traded, which is almost 20 times its 200-day average of 3.85 million shares traded.
On Sept 10, Macpie’s share price closed at 32 sen with 47.1 million shares transacted.
Prior to this, the stock had been on the uptrend since Sept 2, when it closed at 17.5 sen.
Listed on the ACE Market since 2007, Macpie, which is also involved in event management, was formerly known as Sterling Progress Bhd.