Bursa queries YGL on share price, volume spike

-A +A

KUALA LUMPUR (Oct 30): Bursa Malaysia has issued an unusual market activity (UMA) query on YGL Convergence Bhd over the recent rise in its share price and volume.

Software developer YGL's share price has appreciated almost 50% from 24.5 sen as at Oct 1 this year.

At 11.20am today, the second most-actively traded counter was traded two sen or 5.8% higher at 36.5 sen with 32.5 million shares done. At 36.5 sen, YGL has a market capitalisation of some RM64 million.

"We draw your attention to the recent rise in price and volume of your company's shares," Bursa Malaysia told YGL in the bourse regulator's website today.

Bursa Malaysia has requested YGL to respond to the UMA query by disclosing any corporate development, which might have led to the spike in the company's share price and volume.

YGL shares had jumped 248% this year, significantly outperforming the FBM KLCI's 1.38% decline.