KUALA LUMPUR (May 25): Bursa Malaysia's most-active stock Progressive Impact Corp Bhd's price surged as much as 60% yesterday, before ending the day 35.71% higher, while its volume exhibited a rare jump to above 400 million units.

The environmental services provider's share-trade volume jumped to 482.62 million units from 25.12 million yesterday.

The stock's price surged as much as 8.5 sen or 60% to 22.5 sen, before paring gains to close at 19 sen — five sen or 35.17% higher — translating into a market capitalisation of RM124.5 million.

Reasons behind Progressive Impact's share price and volume rise could not be immediately ascertained at the time of writing.

A glance across Progressive Impact's share-trade volume chart over the last one year showed two notable jumps in the stock's volume. Prior to today's surge, a notable rise was seen on March 2, 2021 when the stock's volume climbed to 154.46 million units from 1.38 million a day earlier.

According to Progressive Impact's latest Bursa filing on May 4, 2021, the company on April 22, 2021 bought back 260,000 shares on the open market for RM34,246.17.

Progressive Impact said it paid between 13 sen and 13.5 sen for each share bought back.

The company has also provided more updates on its proposed final dividend of 0.3 sen a share for the financial year ended Dec 31, 2020.

On April 27, 2021, Progressive Impact said in a Bursa filing that the company's securities would trade ex-dividend on June 30, 2021 while the dividend payment date fell on July 15, 2021.