Parkson Retail Asia queried over ‘unusual' trading activity

The company said it does not know any explanation behind the trading.

Singapore Exchange Securities Trading (SGX-ST) raised queries to mainboard-listed Parkson Retail Asia regarding unusual volume movements in the trading activity of its shares, a bourse filing revealed.

SGX-ST asked if the company was aware of any unannounced information that might explain the trading, which may include events that are potentially material and price-sensitive, such as discussions and negotiations that may lead to joint ventures, mergers, acquisitions or purchase or sale of a significant asset.

The company replied that it is not aware of any such information. It also said that it does not know of any other possible explanation for the unusual volume movements in the trading activity, such as public circulation of information by rumours or reports.

Parkson Retail confirmed that it has complied with the listing rules set out in the SGX-ST Listing Manual, particularly Rule 703 that requires issuers to announce any information it knows which is necessary to avoid the establishment of a false market or would be likely to affect the price or value of its securities.