Thursday 28 Mar 2024
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KUALA LUMPUR (June 9): Kobay Technology Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia following the sharp rise in its share price and volume today.

The stock hit limit up today after surging 29.79% or 42 sen to its all-time high of RM1.83, making it the second top gainer across the bourse.

A total of 4.09 million shares were traded, far exceeding its 200-day average trading volume of 167,470 shares. The current price gives Kobay a market capitalisation of RM306 million.

In a bourse filing, Bursa requested the company to state whether there is any corporate development relating to its group's business and affairs that has not been previously announced that may account for the trading activity, including those in the stage of negotiation or discussion.

Kobay is also required to reply to Bursa's UMA query on whether any unannounced corporate development, rumours or reports may account for the UMA.

Kobay is mainly involved in the manufacturing of precision metal components, precision tooling and equipment, and metal fabrication.

Year to date, the stock has climbed 132% from 79 sen on Jan 4.

Edited ByTan Choe Choe
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