Freight Links (F01.SG) +11.1% at $0.010, off $0.105 intraday high, highest level in 3 years.
Stock is SGX’s most active today with over 125 million shares changing hands vs 50-day average volume of 12 million; increased interest likely due to upcoming debut of Sabana REIT, which due to list on SGX Friday.
Sabana REIT’s IPO priced at $1.05 per unit; likely to gain on debut, given it’s Singapore’s first Shariah-compliant listing, will be world’s largest listed Shariah-compliant REIT by assets. Freight Links earlier this month completed sale and leaseback of 5 properties with REIT ($99.4 million net proceeds), company to subscribe for 27 million units (4.3% of units after listing), will be participating as REIT Manager, Property Manager, which will generate additional income, broaden group’s network.
Group will also derive stable income stream from REIT’s distributions. Orderbook quotes suggest further upside unlikely today.
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