AGBA Reported To NASDAQ And SEC In Relation To Irregular Trading Activities In AGBA Shares
Portfolio Pulse from Benzinga Newsdesk
AGBA Group Holding Limited has reported irregular trading activities in its ordinary shares to the Securities and Exchange Commission and Nasdaq. The irregularities, which began on April 28, 2023, saw trading volumes exceed 100% of the company's freely tradeable shares. AGBA's controlling shareholder, TAG Holdings Limited, holds 82.3% of the company's outstanding shares and has not sold any since the company's Nasdaq listing in November 2022.
October 03, 2023 | 1:09 pm
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AGBA has reported irregular trading activities in its shares to the SEC and Nasdaq. The company's controlling shareholder, TAG Holdings, has not sold any shares since the company's Nasdaq listing.
The report of irregular trading activities could negatively impact AGBA's stock price in the short term due to potential investor concerns about market manipulation. The fact that TAG Holdings, the controlling shareholder, has not sold any shares could provide some reassurance to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100