KUALA LUMPUR (Oct 6): XOX Bhd, which saw its share price surge 38.89% yesterday to close at its one-and-a-half-year high of 12.5 sen after some 69.97 million shares were traded, said today it does not know of any reason that caused the share price and volume spike.

XOX said its board, after making due enquiries with its major shareholders and such relevant persons, is not aware if there was any corporate development not previously announced, rumour, or report that could account for the UMA.

The mobile telecomminications provider also stressed that the company is in compliance with Bursa Malaysia's listing requirements on immediate disclosure obligations.

As at 2.27pm, XOX was trading at 13.5 sen, up 1 sen or 8%, with some 66.87 million shares changing hands.

Year-to-date, the share has risen over 170% to its current price, which gives it a market capitalisation of RM44.82 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)