Hot stock: FHT slides 24.8% after missing votes needed for proposed privatisation

SHARES of Frasers Hospitality Trust (FHT) hit a 5-month low on Tuesday (Sep 13) after the counter resumed trading. This came after the stapled group’s managers narrowly missed the number of votes needed for privatisation at a scheme meeting on Monday.

FHT dropped to a low of S$0.53 within an hour of the market opening on Tuesday, trading 24.8 per cent or S$0.175 lower. The last time the counter closed near this level was Apr 1, 2022.

By 4.02 pm, the counter was trading 22 per cent or S$0.155 lower at S$0.55, with 93.9 million stapled securities changing hands, making it the top most traded by volume. FHT ended Tuesday at the S$0.55 mark.