Osim unable to account for share price tumble

Massage chair maker Osim International has no idea why its share price could have tumbled so much for two days straight, it told the Singapore Exchange on Wednesday afternoon. -- PHOTO: OSIM
Massage chair maker Osim International has no idea why its share price could have tumbled so much for two days straight, it told the Singapore Exchange on Wednesday afternoon. -- PHOTO: OSIM

SINGAPORE - Massage chair maker Osim International has no idea why its share price could have tumbled so much for two days straight, it told the Singapore Exchange on Wednesday afternoon.

"We are not aware of any information not previously announced concerning us, our subsidiaries or associated companies that might explain the trading," the mainboard-listed firm said in a statement.

"There are currently no ongoing discussions regarding any joint ventures, mergers, acquisitions or purchases or sales of any significant assets."

It added: "We are not aware of any other possible explanation for the trading."

The exchange had queried the company in the morning about "unusual" trading activity in Osim shares.

The counter lost 4 per cent on Tuesday to $2.43. It dropped 5.3 per cent on Wednesday to $2.30 after the SGX query, then recovered slightly.

It was hovering around the $2.32 level, 4.5 per cent lower from Tuesday, as at 3.30pm on Wednesday.