Singapore Press Holdings Ltd shares rose as much as 3.9 per cent to a seven-week high of S$4.56 on Tuesday after it announced plans to establish and list a real estate investment trust.
SPH, which dominates newspaper publishing in Singapore, aims to make S$1.048 billion (US$829 million) by selling part of the REIT whose assets are two shopping malls, in what could be the city-state's third-biggest initial public offering this year.
SPH had said it would explore the possibility of setting up a REIT earlier this year but had not given any details until Monday's announcement.
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