Singapore Post recovers slightly in early Thursday trade, after the e-commerce and mail company told the Singapore Exchange it was not aware of any reason why its share price should have fallen so much a day earlier.
SingPost’s shares tanked 6.2% in Wednesday trade, hitting their lowest level since May 2014. In a statement early Thursday responding to the SGX query, the company points to a global trend of declining mail volumes and its efforts to transform its business to cope with this.
It says it “continues to pursue opportunities both organic and via M&As, to drive growth in Singapore and the regional markets.”
However, it says there is no material development that regulations require it to announce nor is there any other information it is aware of to explain the trading.
As at 10.11am, SingPost's shares are up 0.3% at $1.515 each with 2.6 million traded.
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SingPost’s shares tanked 6.2% in Wednesday trade, hitting their lowest level since May 2014. In a statement early Thursday responding to the SGX query, the company points to a global trend of declining mail volumes and its efforts to transform its business to cope with this.
It says it “continues to pursue opportunities both organic and via M&As, to drive growth in Singapore and the regional markets.”
However, it says there is no material development that regulations require it to announce nor is there any other information it is aware of to explain the trading.
As at 10.11am, SingPost's shares are up 0.3% at $1.515 each with 2.6 million traded.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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