|Stock price||10.1 c|
|52-week range||3 - 19.6c|
Penny stock Sysma Holdings sprang to life today, closing up 31.2%, and earning itself a query from SGX.
The stock jumped 2.4 cents to 10.1 cents.
About 20.1 million units of Sysma changed hands, compared to the 650,000 daily average of the past three months.
The catalyst for the spike up is unclear as there has been no corporate announcement since 7 Oct 2016.
For what it is worth, that announcement said $1.96 million worth (at 7 cents a share), or 28 million shares, of Sysma has been bought by the founder and CEO, Sin Soon Teng, who is also the No.1 shareholder.
After the transaction, his stake rose to 166,660,000, or 63.83% of the company, which is a boutique property developer of Good Class Bungalows.
The seller was previously the No.2 shareholder (with a 10.73% stake, now zero), Sustained Land Pte Ltd. Douglas Ong Pang Chye had a deemed interest in Sustained Land.
Sysma replied to SGX with the standard "We don't know the reason" reply.
|China Minzhong traded at $1.19-$1.195 today, which is just a whisker from $1.20 takeover price.
This brings to a close a long-drawn wait that began in Dec 2014 when Minzhong's chairman announced an interest to privatise the company. The stock is now up about 40+% since NextInsight discussed, in a Jan 2016 article (CHINA MINZHONG: 40+% upside to potential GO price. What gives?), the likelihood of the end-game being a firm takeover offer, and the risks of it coming to nought.