The manager of ARA Logos Logistics Trust (ALOG) has received a query from the Singapore Exchange Regulation (SGX RegCo) after ALOG’s share price closed at 95 cents today, up 5.5 cents or 6.15% higher from its previous close of 89.5 cents.
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The query, which came in at 5.20pm, noted "unusual price movements" in the trust’s shares. ALOG's share price had started climbing during the latter half of the day before closing at the intraday high of 95 cents on the back of a trading volume of 27.8 million shares.
SGX RegCo requested for the manager to reveal any information that could explain the trading activity. It also asked the manager to confirm its compliance with the listing rules.
In a response issued at 7.26am on Sep 3, t the manager points to ALOG's inclusion in the FTSE EPRA Nareit Global Developed Index, which had been announced by FTSE Russel on Sep 1. "The manager notes that a number of other REITs which have been included in the FTSE EPRA Nareit Global Developed Index have also experienced an increase in its unit price and trading volume yesterday, and the manager believes that this may explain the trading," the manager says.
Alongside ALOG, other REITs which will be included in the index with effect from Sep 20 include OUE Commercial REIT, Prime US REIT, Keppel Pacific Oak US REIT, ESR-REIT and AIMS APAC REIT.
The manager filed an announcement to SGX in relation to the inclusion after trading hours yesterday at 5.50pm.
Other than the inclusion in the index, the manager states it is not aware of any other information which it is required to announce in accordance with the listing rules that might explain the trading. It also confirmed its compliance with the listing rules.
