The managers of Frasers Hospitality Trust ACV (FHT), a stapled group comprising Frasers Hospitality REIT and Frasers Hospitality Business Trust, say they are unaware of the &ldquo specific reason&rdquo behind a nearly 40% surge in the price of FHT&rsquo s stapled securities over the past month. 

 

In a Dec 31 bourse filing, the managers note &ldquo significant movements in the price and trading volume of FHT&rsquo s stapled securities recently&rdquo , but also add that they are in compliance with listing rules concerning disclosure of material information.

 

FHT stapled securities started the year at 50 cents on Jan 2. They reached a 52-week low of 42 cents multiple times, in June, July, August and end-November. 

 

FHT stapled securities began climbing on Dec 3, reaching a 52-week high of 60 cents on Dec 30. 

 

FHT announced on Nov 12 the asset valuations of properties in its portfolio, which had been adopted in its financial statements for the financial year ended Sept 30. 

 

In its last bourse filing before its stapled securities began to climb, FHT announced on Nov 27 that Panote Sirivadhanabhakdi, the chairman of the board of each of the managers, would step down on Dec 1, in line with the managers&rsquo intent to have an independent chairman of the board of each of the managers.

 

Ho Hon Cheong replaced Sirivadhanabhakdi as chairman on Dec 1.