KUALA LUMPUR: Pertama Digital Bhd's share price recovered in early trade today after falling over the past eight days.
At 11.26am, the stock surged 26.53 per cent or 6.5 sen to 31 sen from its previous closing price of 24.5 sen, giving the company a market capitalisation of RM136 million.
Pertama Digital's stock fluctuated between 25 sen and 32 sen before closing at 31 sen, with 111.45 million shares traded.
On Sept 30, the company announced the resignation of executive director Mohd Reza Mohd Hatta.
Three days earlier, non-executive director Tan Sri Dr. Nik Norzul Thani Nik Hassan Thani also stepped down.
Since Oct 1, the stock plummeted over 80 per cent, from RM1.95.
On Oct 3, Bursa Malaysia issued an unusual market activity (UMA) query to Pertama Digital.
Executive director Sabri Ab Rahman said the company was unaware of the reasons behind the recent dip in stock prices, but assured stakeholders that it remained strong and well-positioned for sustainable growth.
Pertama Digital operates a neobank that provides digitalisation services to government agencies in exchange for substantial deposits.
The company also manages the MySMS brand, facilitating the transmission of millions of messages between government agencies and the public.