Friday, March 18, 2011

HUTCHISON PORT HOLDINGS TRUST Opens at 0.97

HUTCHISON PORT HOLDINGS TRUST N (NS8U.SI ) opens at 0.97 on it's trading opening. The IPO price is 1.01 makes its about 4% discount :)
Just within the five minutes the total trading volume is > 100 million shares and HPH became the top volume stock in the market. The low is 0.960 so far with the high being 0.980 so far.
I think this continues the trend of stocks opening at less than the IPO price in SGX.

As I am writing this post the volume hit150 million.....May be it'll hit more than 500 million before end of the day..

Update: After three hours, the total volume is 616 million & value 591 millions and close @ 0.950


I think this is a record for a stock to hit that volume/value. By the way I won't believe that the price dropped due to the happenings in Japan. This is a perfect way for the promoters to dispose their assets and get hard cash.. 

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