Hot stock: CapitaLand hits high of S$4.01 amid active trading
SHARES of C31 jumped as much as 21 per cent to S$4.01 in the first minute of trading on Tuesday, amid active trading.
The counter had closed at S$3.31 on Friday and was halted from trading on Monday.
As at 10.02am, the counter was trading at S$3.80, up 14.8 per cent or S$0.49. About 46.5 million shares changed hands.
No married deals were recorded, according to ShareInvestor data.
The price movement comes after CapitaLand on Monday announced a corporate restructuring exercise that will see the group split itself into two.
The real estate development business will be placed under private ownership, while the investment management platforms and lodging arm will be consolidated into a newly-created listed entity to be called CapitaLand Investment Management (CLIM).
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Shareholders of CapitaLand will become shareholders of CLIM, which will be listed on the Singapore Exchange.
Unit prices of CapitaLand Integrated Commercial Trust (CICT) and Ascendas Reit, which were also halted for trading on Monday, faced downward pressure on Tuesday.
As at 10.20am, C38U was down 2.8 per cent or S$0.06 from its Friday's close to S$2.12. A17U fell 2.3 per cent or S$0.07 from its Friday's close to S$3.01.
Shares of property group C09 were trading at S$7.86 as at 10.22am, down S$0.03 or 0.4 per cent, with 1.2 million shares changing hands. The counter has closed at S$7.89 on Monday.
READ MORE:
- CapitaLand's morphing into CLIM could provide a template for others
- CapitaLand chases faster growth with restructuring, planned listing of CLIM
- CapitaLand shareholders to hold shares in new investment and lodging entity
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