A couple of micro-cap SGX companies are surging – but investors should think twice before biting
Acma and Sitra have not offered compelling growth stories, so their share price gains may not be sustainable
WHILE most Singaporeans are fretting over their ability to save S$1 million for their retirement, one Chinese private investor has made that amount on the Singapore market in the past week alone.
Former brand marketing consultant Cui Wenyan gained a cool S$1 million from having invested S$171,128 for some 4.3 million shares in little-known Singapore-listed company Acma , at S$0.04 apiece in a placement completed on Jan 14.
The issue price of the new shares represented a premium of approximately 29 per cent to Acma’s volume weighted average price of S$0.031 a share on Dec 29 – the day before the placement was proposed.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
