Blis unable to explain share spike

A 35 per cent rise in the Blis Technologies' share price on Friday sparked a stock exchange inquiry that the health products manufacturer was unable to explain.

Blis shares rose 6.5c to 25c on volume of 49,635.

It has 9.5 million shares on issue. The share price has doubled in two months.

The NZX asked Blis whether there was any reason for the rise and if the company was about to issue any news of importance.

"The company does not believe it is in possession of any information which, if generally available to the public, might reasonably be regarded as an explanation of the price variation," Blis said in a statement.

"The company is not aware of any matters of importance concerning the company which it is about to announce to the NZX."

Blis said no company executive or director had made any comment to account for such a share move.

It said the only information possibly newsworthy it was aware of was that TheraBreath, its US distributor, had recently distributed an email to its customers which contained positive statements about AKTIV-K12 - a mouthwash against halitosis.

"In addition, the company is aware that AKTIV-K12 is now available for sale on TheraBreath's website," Blis said.

"While the company is aware of this recent positive publicity and the availability of AKTIV-K12 on TheraBreath's website, it is unaware whether the publicity has contributed to the recent increase in the company's share price."

The first commercial shipment to TheraBreath was made in November.

- NZPA