October 18, 2013 / 10:00 AM / in 4 years

Singapore Exchange lifts trading curbs on three interlinked stocks

SINGAPORE, Oct 18 (Reuters) - The Singapore Exchange Ltd on Friday said it has removed trading curbs on the shares of Blumont Group Ltd, Asiasons Capital Ltd and LionGold Corp Ltd - interlinked companies whose share prices fell steeply this month.

SGX suspended trading in the three stocks on Oct 4. after a drop in their prices and then declared them “designated securities,” meaning traders cannot short-sell them and must pay for any purchases with cash up front.

In a statement late on Friday, SGX said it will continue to monitor the trading of all three stocks. The trading curbs will be lifted effective Monday.

The exchange has faced criticism in the local media this month over complaints that it stepped in late to tame price swings in the three companies. Blumont lost nearly $5 billion in market value after a steep rise earlier this year. (Reporting by Anshuman Daga and Rachel Armstrong; Editing by Christopher Cushing)

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