Stock Track | FoundationHealth Soars 3.47% in Pre-Market on UBS Stabilising Trades

Stock Track09:02

FoundationHealth's stock surged 3.47% in pre-market trading on Friday, showing significant upward momentum.

The price movement follows the announcement that UBS AG Singapore Branch, acting as stabilising manager, conducted market purchases of Foundation Healthcare Holdings Limited shares. The bank acquired a total of 4.55 million shares at prices ranging between 0.705 and 0.735 Singapore dollars per share as part of the post-listing stabilisation effort for the company's recent offering.

Such stabilising trades by a major financial institution typically create buying pressure in the market, which can support and potentially boost the stock price during the post-listing period.

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