Categorized | Singapore Trading News

Credit Suisse says HPH Trust (NS8U.SG) could peak within two weeks of its debut this afternoon

Credit Suisse says HPH Trust (NS8U.SG) could peak within two weeks of its debut this afternoon

Credit Suisse says HPH Trust (NS8U.SG) could peak within two weeks of its debut this afternoon, based on GLP (MC0.SG) and CapitaMalls Asia’s (JS8.SG) historical share price performance.

The house says on its IPO price of US$1.01 ($1.29), HPH Trust would have a market cap of $11 billion, the 18th-largest stock in Singapore, and is expected to be included by MSCI to its indices, with an announcement possibly by this evening.

The house notes GLP and CMA were both included by MSCI immediately upon listing; GLP jumped 11% on its debut while CMA rose 8%.

“GLP peaked on the 10th trading day (+18% over the IPO price), one day before being effectively included in the MSCI index. CMA peaked on the 14th day (+27%) over its debut, two days after being included in the index. Interestingly, both GLP and CMA returned nearly all their outperformance within 100 days post their debut.”

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