Ann: Sibu Kurnia (SKM) Acquisition Receives Ministerial Consent, page-94

I agree @Ryzie. Last year IOU traded for ages around the 0.16 mark, dropping even slightly lower. I remember because that was when I sold out and invested in a few mining shares for a while, but the day the Easystore announcement happened I sold everything and bought back in within a few hours - hence my higher average at $0.24. There was hype in the BNPL market and people were itching for some sort of news from IOU to show progress in BNPL.
Along comes the Easystore announcement and people jumped on it as a reason to buy IOU. On top of that, we then have the well documented buying and selling from CS. I don't think they started it, but certainly when they saw what was happening, they then bought a heap of shares to push the price up which retail then got more excited about thinking this was going to be one of those astronomical rises like APT and then CS just sold right back into it and were out before people realised what was happening.
That was none of IOU's doing in my opinion. It was solely the market.