First Ship Lease Trust (FSL) has cited a report from a broking firm as a possible explanation for what the Singapore Exchange (SGX) described as “unusual volume movements of shares”.
SGX asked the tanker owner to explain a 5.4% rise of its stock, which stood at SGD 0.098 ($0.07) on Thursday.
FSL told SGX it was not aware of any information concerning the company that might explain the trading rather than a report issued by Singapore’s KGI Securities on 14 August.
