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PSA purchase lifts HPH Trust as share price hits all-time low

Chan Chao Peh
Chan Chao Peh6/18/2018 07:30 AM GMT+08  • 4 min read
PSA purchase lifts HPH Trust as share price hits all-time low
SINGAPORE (June 18): Singapore’s state-owned port operator, PSA International, has acquired more than 53 million shares in Hutchison Port Holdings Trust from the open market for nearly US$15.9 million ($21.2 million). The purchase was made on June 6, at
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SINGAPORE (June 18): Singapore’s state-owned port operator, PSA International, has acquired more than 53 million shares in Hutchison Port Holdings Trust from the open market for nearly US$15.9 million ($21.2 million). The purchase was made on June 6, at an average price of 29.7 US cents.

With this purchase, PSA, which has been the second-largest unitholder of HPHT since it went public, increased its stake in the trust to nearly 984 million shares, or 11.29%. Prior to this, PSA, via an entity called Port Capital, owned nearly 930.4 million shares, or 10.68% of the trust.

HPHT’s largest shareholder is still Hutchison Port Group Holdings, part of Hong Kong tycoon Li Ka Shing’s sprawling business empire, which owns just over 2.4 billion shares, or 27.62% of the trust.

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