CosmoSteel Holdings, which supplies piping system components to the energy and marine industries, released a response today to Singapore Exchange queries regarding trading activity.

It said that the firm is exploring the possibility of potential share subscription, but it is only in the preliminary stage now.

It advised shareholders and investors to be careful when dealing or trading in the meantime, as there is no guarantee that the firm will enter any definitive agreement.

Besides the potential share subscription, the firm said that it is not aware of any other possible explanation for the trading, and confirmed compliance with the listing rules.