The Business Times
business-time-50

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

google-preferred-sourceAdd BT as a preferred source
Vivienne Tay

Vivienne Tay

Published Tue, Sep 13, 2022 · 09:51 AM
    • FHT dropped to a low of S$0.535 right when the market opened on Tuesday, down 24.1 per cent or S$0.17. The last time the counter closed near this level was Apr 1, 2022.
    • FHT dropped to a low of S$0.535 right when the market opened on Tuesday, down 24.1 per cent or S$0.17. The last time the counter closed near this level was Apr 1, 2022. PHOTO: FRASERS HOSPITALITY TRUST

    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.

    Hot Stockfrasers hospitality trustPrivatisationAGM/EGM

    TRENDING NOW

    The company says the disputes do not cast significant doubt on its viability as a going concern.

    Koh Brothers Eco Engineering faces up to S$57.6 million in potential legal liabilities

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    The deal for the sale of Scotts Square mall, just off Orchard Road, is said to be in the early stages of being worked out, at a price of about S$320 million.

    Father-and-son duo Raj Kumar and Kishin in exclusive due diligence to buy Scotts Square

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More