Web Travel Group (ASX:WEB) confirmed that it complied with all ASX listing rules in response to a price query letter from the bourse, adding that it was unaware of any information that had not been released to the market and which could explain the recent trading in its securities, according to a Friday Australian bourse filing.

The ASX noted that the firm lodged a filing, which was not marked "market sensitive", before market open on Friday, which said that the Special Delegation of the Balearic Islands of the Spanish Tax Agency had commenced an audit of the firm's unit in respect of both direct and indirect taxes over a certain period. Its shares fell from a high of AU$3.81 per share to a low of AU$2.475 per share.

The firm said it maintains the view that the filing was not market sensitive, noting that the tax audit had been covered by Spanish media, and the purpose of the filing was "to proactively inform the market."

Its shares fell over 27% in recent trading on Friday, reaching a five-year low point.