SGX RegCo warns investors on dealing with Digilife shares

Its share price has climbed steadily from $1.12 on 6 January.

The Singapore Exchange Regulation (SGX RegCo) advised investors to exercise caution when dealing in shares of Digilife Technologies Limited (Digilife).

The price of its shares grew 60% from $1.80 to $2.88 between 1 March to 11 April, with its share buy-back account contributing 70.6% of the buy volume for the stock.

The share price increase pushed Digilife's market capitalisation up by $14.3m to reach $38.6m on 11 April.

The company, formerly Sevak Limited, underwent a name change on 6 May 2021.

Sevak Limited was subject to a Trade with Caution alert last 31 January 2019 concerning its trading activities by its share buy-back account.

The regulatory board said it will continue to review and monitor trades in Digilife shares and take all necessary actions, including referring the case to statutory authorities where warranted.