[ad_1]
KUALA LUMPUR (Nov 16): Bursa Malaysia has advised investors to be cautious when trading Gets Global Bhd shares, which have soared to RM3.97 from just nine sen in late July.
The regulator said it had issued an unusual market activity query to Gets Global Bhd on October 20 and November 12, and the group responded by saying it was not aware of the reason behind the counter rally.
Therefore, Bursa would like to advise investors to be cautious and make informed decisions when trading Gets Global shares.
“Bursa Malaysia Securities will not hesitate to take appropriate regulatory measures to ensure the fair and orderly trading of Gets Global shares,” the exchange noted in the announcement.
Meanwhile, RHB Investment Bank Bhd has required investors to have collateral, either in cash or in shares, in their trading accounts, to execute purchase orders for Gets Global shares as of today (November 16).
It is understood that the investment bank requires its clients to have cash on a 1: 2 basis and / or share guarantee on a 1: 1 basis in their trading accounts for all GETS bus operator share purchase orders Global and the construction company. Vivocom, whose share prices had soared.
Gets Global’s share price has been on a strong upward trend since the beginning of August, when it was trading at around 10 sen. Since then, the company received three inquiries from Bursa on Unusual Market Activity (UMA) on August 26, October 20 and November 12.
The stock rose even higher today. The stock soared 23.24% or 80 sen to RM3.97, bringing in a market capitalization of RM500.22 million. Some 14.53 million shares were traded, topping its 200-day average volume of 7.14 million shares.
[ad_2]
