Reuters: Global Markets: Singapore GLP shares jump to record high in heavy trading

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Singapore GLP shares jump to record high in heavy trading Sep 13th 2012, 07:24 SINGAPORE | Thu Sep 13, 2012 3:24am EDT SINGAPORE (Reuters) - Singapore's Global Logistic Properties (GLPL.SI) rose as much as 10 percent to a record on Thursday as trading volume soared, prompting the Singapore Exchange to query the company. By 0712 GMT, GLP shares were up 6.5 percent at S$2.62, with 18.9 million shares traded, 2.5 times its average daily volume over the last five sessions. A block trade of 3.7 million shares at S$2.66 was done, according to Thomson Reuters data. According to a note from CLSA, GLP's management indicated that a spinoff of its Japanese properties into a real estate investment trust was a "matter of timing" and that the "market is trading well". "It sounds like J-REIT listing could be coming soon," said a local trader who declined to be named. GLP planned to list its Japan assets in an initial public offering that could raise as much as $1.3 billion, sources have told Reuters.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions