Widetech hit with UMA query after 29.6% rise in share price

Widetech hit with UMA query after 29.6% rise in share price
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KUALA LUMPUR (Feb 16): Widetech (Malaysia) Bhd has been hit with an unusual market activity (UMA) query by Bursa Malaysia this morning after its stock rose 29.6% or 37 sen to RM1.62.

In a bourse filing, the company, which is a precision spring manufacturer and management services provider, said Bursa Malaysia had issued the UMA query after a steep rise in its share price.

Following this, Widetech has to disclose to the local bourse whether, among others, there are any corporate developments relating to its business after checking in with directors and major shareholders, or any developments that have not been previously announced.

At the time of writing, Widetech was the third-highest top gainer on the local bourse. The counter was up 29.6% or 37 sen at RM1.62, valuing it at RM72.5 million. It saw 465,700 shares done.

Joyce Goh