It was recently specified by Fisher & Paykel Appliances that the company has no idea how its share prices rose more than 30% since Friday.

Yesterday, F&P was questioned by NZX whether it had disclosed all material information to the market.

NZX expressed concerns over the stock price manipulation and said, "FPA's share price yesterday was quoted on the NZSX Market at 63 cents per share.

This is an increase of 15 cents per share (31.25 percent), since commencement of trading on Friday May 1, 2009."

Mark Richardson, F&P Appliances chief financial officer tried to explain that company which was in compliance with continuous disclosure rules, had no specific reason for the share price movements.

Mr. Richardson added, "As noted in the announcement the Company made on April 28, 2009, the Company's banking syndicate has extended the date for repayment of the $80 million interim bank funding facility until 29 May 2009."

(Via TopNews New Zealand. Contributed by Surjit Singh)