Visdynamics not aware of reason for unusual market activity

Visdynamics not aware of reason for unusual market activity
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KUALA LUMPUR (Jan 17): Visdynamics Holdings Bhd says it is not aware of any developments that could explain the sharp rise in its share price recently.

The group said this in a stock exchange filing this evening in response to an unusual market activitiy (UMA) query from Bursa Malaysia Securities Bhd earlier today, following the nearly 70% jump in the group's stock price in the past month.

Trading at 38 sen on Dec 19, 2019, the ACE-Market listed stock is now 68.4% higher at 64 sen, which gives it a market capitalisation of RM108.35 million.

Visdynamics is involved in the design, assembly and testing of back-end equipment in the automated test equipment industry for semiconductors.

In its filing, Visdynamics said its board of directors, to the best of their knowledge and after making due enquiry with the group's directors and major shareholders, is not aware of any corporate development, or rumour or report concerning the group's business and affairs, that may account for the unusual trading activity.

It also said it remains in compliance with the Bursa Securities’ ACE Market Listing Requirement, in particular Rule 9.03 of the Listing Requirements on immediate disclosure obligations.