Financial Times

Listed firms unaware of reasons for strange price hikes
Two listed companies have informed the Colombo Stock Exchange that they were unaware why their share prices have suddenly increased.

“To the best of our knowledge, we are unable to attribute any reason for the significant share price increase mentioned in your letter,” Associated Property Development Ltd. told the CSE.

The CSE routinely queries listed firms when there are unusual movements in their share prices. Associated Property Development shares shot up Rs 7.50 or 12.61 percent on September 8 to Rs 67. “The company is conducting business normally and nothing unusual has taken place that needs disclosure,” the company said.

Samson International Ltd. has also told the CSE that it was not aware of any reason for the unusual increase in the price of its share.“There are no material changes on the company’s performance that may affect the price of the company’s share.”

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