Hutchison Port Holdings Trust will be the first to launch dual currency trading of its units on Singapore Exchange’s recently introduced dual currency trading platform.
HPH units are currently quoted and traded only in US$. With the launch of dual currency trading of the Units, HPH Trust will have a S$ counter in addition to its existing US$ counter.
Investors will be able to buy or sell in either counter starting 9am on April 2. Trades made in the US$ counter will be settled through SGX in US$, while trades made in the S$ counter will be settled through SGX in S$. The units traded in both counters are identical.
“We believe dual currency trading is in the best interests of our unitholders and may enhance the liquidity of our units by attracting investors who wish to invest in S$. Fungibility between the two currency counters also means potential and existing Unitholders have the added flexibility to trade in either counter,” says Canning Fok, Chairman of the trustee-manager of HPH Trust.
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