FoundationHealth's stock surged 3.55% during intraday trading on Wednesday, marking a significant upward movement for the healthcare company.
The sharp rise appears to be linked to news that UBS AG, Singapore branch, acquired 850,000 shares of Foundation Healthcare Holdings in the open market. The shares were purchased in the price range of SG$0.705 to SG$0.715 each, according to a recent disclosure.
Such a substantial purchase by a major financial institution like UBS often signals strong confidence in the company's prospects, potentially prompting increased investor interest and buying activity in the stock during the session.
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