Bursa queries MMAG on share price, volume surge

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KUALA LUMPUR (Sept 11): Bursa Malaysia had today issued an unusual market activity (UMA) query on the sharp rise in the price and volume of IT firm MMAG Holdings Bhd shares recently.

"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 MMAG’s filing on Bursa’s website.

MMAG had not responded to Bursa’s query at the time of writing.

At 4:11pm today, MMAG’s share price was 11 sen or 14.77% higher at 85.5 sen, valuing the company at about RM880.65 million. 

The market value is based on MMAG’s 1.03 billion issued shares.

The counter saw 12.26 million shares traded. On Aug 11, 2020, MMAG’s share price closed at 43.5 sen with 1.24 million shares transacted.

MMAG was formerly known as Ingenuity Consolidated Bhd.

Chong Jin Hun