CFA Society Singapore
SINGAPORE (Apr 15): Units in Asian Pay Television Trust (APTT) have jumped 15.5% to 14.9 cents as at 3pm on Monday after the group announced it is undertaking an independent strategic review.
APPT said before market open on Monday that it is considering the options available for APTT and its investment in Taiwan Broadband Communications Group (TBC).
The trustee-manager of APTT has set up a special committee to oversee the strategic review. The committee comprises the group’s chief executive officer Brian McKinley as well as four independent directors.
The trustee-manager is also is in the process of selecting an independent financial adviser to assist with the strategic review, and says it expects to make an appointment in the near future.
Units in APTT are currently trading near an all-time low, after shedding more than 70% of its value from a 52-week high of 52 cents in April last year.
The first listed business trust in Asia which focuses on pay TV businesses, APPT made its debut on the Singapore Exchange with an initial public offer price of 97 cents in May 2013.