Hutchison Port Holdings (HPH) Trust plans to launch a dual currency trading of its shares on Singapore Exchange to give greater flexibility and convenience to investors.
HPH Trust shares are currently traded only in US dollars. The trust intends to add a Singapore dollar counter, allowing trades to be settled either in US dollars or Singapore dollars.
The additional Singapore dollar counter for the units will not affect the financial position of HPH Trust or change the total number of units issued by the trust, the company said on Thursday.
“We believe dual currency trading is in the best interests of our unitholders and may enhance the liquidity of our units by attracting investors who wish to invest in S$. Fungibility between the two currency counters also means potential and existing unitholders have the added flexibility to trade in either counter,” said Canning Fok, chairman of the trustee-manager of HPH Trust.
Source: Seatrade-Asia