07/08/2009 - 15:42

ASX halts VDM Group shares after surge

07/08/2009 - 15:42

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Trading of shares in VDM Group were temporarily suspended after its share price surged 85 per cent in less than 15 minutes on no news.

Trading of shares in VDM Group were temporarily suspended after its share price surged 85 per cent in less than 15 minutes on no news.

The company's share price was trading at 31 cents at 14:27 AEST before it shot up to a high of 57.5c at 14:39 AEST. VDM's shares last traded at 50c before the Australian Securities Exchange placed the trading halt.

More than 5.5 million shares changed hands today, above yesterday's 512,029,

VDM company secretary Peter Simpson told WA Business News the company did not have an explanation for the share price jump.

He added it could be someone accumulating VDM shares and if that were the case, the company would find out in the next few days.

After market close, the ASX lifted the halt on VDM shares.

 


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