Hot stock update: GLP ends trading at S$2.73; responds to SGX query

SHARES of Global Logistic Properties (GLP) ended trading on Wednesday at S$2.73, up 2.2 per cent or six cents from the previous day's closing price.

This was off its peak of S$2.80 earlier in the day, exceeding its 52-week high of S$2.78.

GLP's unusual price movement led to a trading query from Singapore Exchange (SGX). The company has since responded by reiterating previous announcements that its special committee had shortlisted several interested parties and invited them to conduct due diligence on the company.

It is pending the committee's outcome on the various non-binding proposals received so far.

In its filing to SGX, GLP said there is no certainty that any definitive transaction will materialise from the proposals or the strategic review.

It added: "The company is not aware of any information not previously announced which might explain the unusual movements in the shares of the company today."