Shares in media group Seven West media surged on the ASX today.
At the close, the shares were up more than 28% to $0.135.
The jump was noticed by the ASX which sent a note to Seven West asking for an explanation.
“We also note the significant increase in the volume of SWM’s securities traded,” the ASX said.
The company replied that it wasn’t aware of any information not announced to the market which could explain the recent trading.
Seven West also confirmed that it was complying with listing rules.
The company has been selling assets to pay down debt.
Earlier this month Seven West announced the sale of its Osborne Park property in Perth $75 million.
It also raised $40 million from the sale of Pacific Magazines to Bauer.
Net debt was last reported at $569.5 million. The current market capitalisation is $161.5 million.
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