Two firms queried by Singapore Exchange over sharp movement in share price

Two companies were today queried over sharp movement in their share price, albeit in opposite direction.

Ocean Sky International shares soared by as much as 27 per cent to 35 cents. In response to a Singapore Exchange query, Ocean Sky disclosed that it was in discussions with parties in relation to a proposed acquisition of business and a proposed fundraising exercise.

At the opposite end of the scale, Sino Grandness Food was also queried by the exchange after its shares plunged by up to 22 per cent to 99 cents.

Sino Grandness, however, said it was unaware of any reason for the trading activity in its shares.