The share price of iFAST Corporation Limited (SGX: AIY) has shot up by more than 10% in the last two days.
At the time of writing, iFAST is trading at S$9.92, up from just S$8.99 two days ago.
The stock is fast approaching the S$10 mark and is now trading at an all-time high.
So what
At the end of July, the group released a statement announcing that it had finalised the prime subcontractor contract relating to the Hong Kong electronic Mandatory Provident Fund (eMPF) project.
As a recap, iFAST had announced in late January that it had been successful in the tender for this project along with its partner PCCW Limited (SEHK: 0008).
With the signing of the contract, iFAST also informed shareholders that it will have a “very material” financial impact for 2023 and beyond.
Now what
Yesterday, the group released another statement when queried by the exchange on the surge in its share price....