IRCB says unaware of reasons for unusual market activity
KUALA LUMPUR: Integrated Rubber Corp Bhd (IRCB), whose shares hit limit-up in early trade on Thursday, Jan 14, has told Bursa Malaysia Securities it was unaware of any reason for the unusual market activity (UMA).
IRCB, in a reply to Bursa Securities, said after having made due enquiry with the directors and major shareholders, they were not aware of any reasons which may have contributed to the UMA.
Its shares rose 30 sen to RM1.87 in early trade, prompting the query.
At the midday break, it was off the early high, with the shares up 18 sen to RM1.74 with 53.69 million shares done.
The Edge FinancialDaily reported that IRCB's single largest shareholder Chip Lam Seng Bhd sold two million shares on Monday, Jan 11 when its share price surged 39.5 sen to close at RM1.34.
A filing with Bursa Malaysia showed it sold the shares in the open market, reducing its total shareholding to 95.6 million shares or 40.37%.
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