iFast says its to-be-released financial results may explain jump in share price, Stocks


Tue, Oct 13, 2020 – 5:50 AM

IFAST Corp said its to-be-released unaudited financial results for the third quarter ended Sept 30 may explain unusual price movements in the company’s share on Monday.

The brokerage platform and wealth manager was responding to the Singapore Exchange Regulation (SGX RegCo)’s queries, the second set issued to iFast in the past three months.

The counter ended 8.46 per cent higher at S$2.82 on Monday, eliciting a set of queries from SGX RegCo at 4.55 pm.

While iFast said it was not aware of any information not previously announced concerning the group which might explain the trading, it drew a possible link of its to-be-released third-quarter financial results to the trading.

Its results will be released pre-market trading on Oct 23.

SGX RegCo had in August queried iFast over a 13.5 per cent increase in its share price, and the mainboard-listed platform noted a Bloomberg report that Hong Kong had shortlisted two finalists to digitalise its retirement funds system. One of the finalists was said to be working with iFast.

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