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Rickmers Maritime surge prompts query from SGX

Units up as much as 38.6% before closing 36.1% higher

Angela Tan

Published Mon, Apr 4, 2016 · 09:50 PM

Singapore

UNITS of Rickmers Maritime soared as much as 38.6 per cent in heavy trade on Monday, prompting the Singapore Exchange (SGX) to query the trust on its "unusual price and volume movements".

Rickmers Maritime - a Singapore business trust which owns and operates containerships mainly under long-term fixed-rate time charters - saw its units climb to an intraday high of S$0.115 each, from its close of S$0.083 last Friday. The units closed the day at S$0.113 each, up three cents, or 36.1 per cent.

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