SINGAPORE (June 10): Units in First Ship Lease (FSL) Trust, the business trust closed 31.8% higher at 5.8 cents on Monday with 1.9 million shares changing hands.

This is 0.05 cent shy of the 5.85 cents mandatory cash offer made by its sponsor FSL Holdings for all the units of the shipping trust it does not own.

FSL made the offer after taking up new units in FSL Trust via a recent preferential offering.

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