Keppel Corp, KepLand dominate trading

EVERY so often a large-scale privatisation offer comes along to inject life into the local stock market, and so it was that Keppel Corp's bid to take over and delist its property arm Keppel Land (KepLand) boosted Monday's volume to 1.4 billion units worth S$1.48 billion, even as the Straits Times Index (STI) dropped 12.98 points to 3,398.52, probably in response to the outcome of Greece's elections.

It was the highest daily business so far this year; active trading in Keppel Corp and KepLand accounted for a total of S$408 million - 28 per cent of total dollar turnover.

As one dealer commented: "This is the first time I've seen Keppel in the top volume list."