HCK Capital slapped with unusual market activity query after hitting limit-up

PETALING JAYA: HCK Capital Group Bhd was queried by Bursa Malaysia after it hit limit-up today, with shares surging as much as 30 sen or 30.3% to an intra-day high of RM1.29.
At 4.08pm, the counter rose 25 sen or 25.3% to RM1.24 on some 558,500 shares done, giving it a market capitalisation of RM522.25 million.
HCK, which is involved in the property, food, technology and media industries, was required to disclose any corporate development, rumour or other possible explanation that could have contributed to the sharp rise in its share price.
Last Monday, the group announced that a total of 421.17 million subdivided shares were listed and quoted on Bursa Malaysia, marking the completion of its one-to-five share split exercise.
It is also undertaking a renounceable rights issue of 210.59 million warrants on the basis of one warrant for every two split shares held.
HCK reported a widened net loss of RM1.1 million for the first quarter ended March 31, 2017 against RM506,000 in the same period a year ago.