Jacky Cheung concerts cited as possible reason behind events firm Unusual’s unusual trading activity

SINGAPORE – Local events company Unusual has been seeing some unusual activity in the trading of its stock.

Its shares rose 13.6 per cent to close at 18.4 cents on Tuesday. On Wednesday, they continued to trade at those levels around noon, but ended the day’s trading down 1.6 per cent at 18.1 cents.

In response to queries from the Singapore Exchange on possible factors behind its unusual trading activity, the company replied via a bourse filing on Tuesday that the response to ticket sales for upcoming concerts by Cantopop singer Jacky Cheung has been overwhelming.

“Other than this, the company is also not aware of any other possible explanation for the unusual price and volume movements in the trading activity of the company’s shares,” read the filing.

Over the course of last week, Unusual’s share price was also steadily rising, with prices going up by 14.1 per cent between April 26 and April 28, closing at 16 cents at the end of last week’s trading.

Prior to this, trading activity of the Catalist-listed company’s shares had generally been quite muted, with prices usually hovering around 14 cents.

Cheung will perform another three shows, amounting to 24,000 more tickets, from July 28 to 30 at the Singapore Indoor Stadium after all 48,000 tickets to the original six shows for July 14 to 16 and July 21 to 23 were

snapped up within four hours of sale.

The Hong Kong superstar will perform a total of nine concerts during the Singapore leg of his Jacky Cheung 60+ Concert Tour, setting a record for the most number of concerts in a single leg performed at the Indoor Stadium.

THE BUSINESS TIMES