Hot stock: GLP surges on talk of potential suitors

GLOBAL Logistic Properties (GLP) was among the most active stocks on the Singapore Exchange (SGX) on Monday. As at 2.00pm, the stock was up by nearly 5 per cent and trading at S$2.75. Some 36.6 million units had changed hands.

The mainboard-listed logistics group last week said that it has received several proposals from would-be buyers of the company, including some connected to its directors.

In an SGX filing, GLP said that the non-binding proposals from various parties arising from the review did not yet involve a definitive deal. It added that there was no assurance any deal would materialise.