Ni Hsin links treasury share sale to stock volatility
KUALA LUMPUR: Ni Hsin Group Bhd says the resale of five million treasury shares for RM2.38 million may have contributed to the sharp fall in its share price and surge in trading volume.
Ni Hsin Group Bhd has linked its recent resale of five million treasury shares to a sharp fall in its share price and surge in trading volume. In response to Bursa Malaysia's unusual market activity (UMA) query, the company stated that it could not conclusively determine if the disposal had triggered the recent trading activity, but it may have had an impact on trading volume and/or share price.
Ni Hsin is unaware of any rumors or reports that could explain the unusual trading, and the company remains compliant with Bursa Malaysia's Main Market Listing Requirements.
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