SGX queries GLP on trading activity after price surge


Shares for mainboard-listed Global Logistic Properties Limited (GLP) surged on Thursday on heavy trading.

The counter was trading at S$2.38 (£1.35) at 2.34pm, up 6.25 per cent from its Wednesday close. It had risen to as high as S$2.45 (£1.39) after opening at S$2.24 (£1.27).

Some 24.5 million shares had changed hands.

This prompted an exchange query on the unusual trading activity. The Singapore Exchange also noted that it was the second query issued to GLP in the past three months.

GLP said on Dec 30 that it had received US$26 million (£21.16 million) cash injection from another co-investor into a fund established earlier that month.

The fund – GLP US Income Partners III – was established to hold a newly acquired US$1.1 billion (£0.90 billion) logistics portfolio from Dallas-based developer Hillwood.

Risk Warning:

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.


The author Paul