(MENAFN- ProactiveInvestors - Australia) Dyesol (ASX: DYE) shares have rallied 37% in less than a week prompting the ASX to issue a price and volume query today after shares reached an intra-day high of A$0.185.
Increased investor interest has driven shares up from a closing price of $0.135 last Thursday.
The ASX noted an increase in the volume of securities traded during the period, with around 2.6 million shares changing hands by 3.09pm (AEDT) today alone.
Dyesol said it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.
However, the company noted that it had announced at its AGM on 30 November 2012 that it was in mature discussions with one or more strategic investors.
"Negotiations are continuing, however there is nothing with sufficient certainty to announce to the market at the current time," Dyesol said.
The company also pointed to collaborative partner in steel Tata Steel Europe's recent promotion of its building efficiency products in the German market, although none relate directly to the photovoltaic technology being jointly developed by Tata and Dyesol in North Wales.
There was strong buying and unusually high volume out of Germany overnight.
Recently, the sale of a legacy shareholding had been the source of pressure on Dyesol's share price, according to the company.
Dyesol said that knowledge of the sale activity after an ASX release by the seller had encouraged significant buying support for the company's shares, especially in light of a major rebound in global solar stocks in recent weeks, led by bellwether investor Warren Buffet.
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