KUALA LUMPUR, March 10 — Bursa Malaysia Securities Bhd (Bursa Securities) has advised investors to exercise caution and make informed decisions in the trading of Dataprep Holdings Bhd shares which recently recorded a sharp increase in price and volume.

The exchange also said it would not hesitate to take appropriate regulatory action to ensure fair and orderly trading of Dataprep shares.

In a statement today, Bursa Securities highlighted the information and communications technology service provider’s response to the unusual market activity (UMA) query that it issued on March 1.

"The company has in its response to the UMA query confirmed that it was not aware of any corporate development or explanation that could give rise to the unusual trading activities in its shares, save and except for the announcements made on February 15, 16 and 23, 2021,” it added.

On February 15, Dataprep announced of the completion of the acquisition of a 51 per cent stake in multimedia hardware and component distributor Ridaa Associates Sdn Bhd for RM3 million, while announcements made on February 16 and 23 were in relation to the proposed private placement of up to 20 per cent of Dataprep’s total issued shares.

At the closing bell, shares of Dataprep settled 50 sen, or 18.87 per cent, higher at RM3.15 after hovering between RM2.65 and RM3.33 throughout the day, with 63.68 million shares changing hands. — Bernama