NZ RegCo has issued a cautionary statement to investors regarding the shares of Being AI.
The company's share price has experienced a significant increase, rising from $0.017 on April 2 to $0.075.
NZ RegCo Surveillance had previously made an enquiry to Being AI on April 4, seeking confirmation that the company was in compliance with the NZX Listing Rules and had disclosed all material information to the market.
Being AI confirmed its compliance with the listing rules.
The rise in share price and NZ RegCo's warning come after Being AI's listing on April 2, following a reverse listing transaction.
The Being AI group of companies was acquired by Ascension Capital.
The acquisition was valued at $0.025 per share.
Investors are advised to exercise caution and review the relevant information on the reverse listing transaction.
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