Tritech receives unusual trading query from SGX; eyes diversification into water treatment, membrane (update)

Tritech recently raised new funds via a placement and is eyeing new businesses in water treatment

Tritech Group, the second most heavily traded stock today, has received a query from the exchange for its unusual trading activity.

At the close of market on April 12, Tritech shares surged 11.76% to close at 3.8 cents. With a volume of nearly 110 million shares traded, it was the second most active after Sembcorp Marine's 174.8 million shares.

In its reply at 10.41 pm, Tritech says it is not aware of why the shares moved the way they did and that the company is in compliance of applicable rules.

Tritech has been similarly queried by SGX before, on Oct 21. The company said then it wasn't aware of what might have caused the unusual trading.

On March 25, the company announced plans to raise up to $33.8 million from a group of new investors that will take up nearly 742.2 million shares at 3 cents each for the first tranche, and 5 cents each for the subsequent tranche.

Tritech, which is in civil engineering, aims to expand its business to include fish farming and to also expand its existing business in membrane technology.

It is also planning to go into the water treatment market across Asia.

See Also:

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