Singapore shares were steady but Fraser and Neave Ltd fell to the lowest in six months as the property and drinks conglomerate resumed trading on Monday after a two-month trading halt.
The Straits Times Index was flat and the MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 percent.
F&N shares shed as much as 5.5 percent to S$8.88, the lowest level since last October. Thai Beverage PLC (Thai Bev) , which holds about 30 percent of F&N stock, rose 4.4 percent to S$0.59, making it one of the top performing stocks in the Singapore market.
F&N said on Friday that it has until July 19 to restore its public float.
"Without an offer from TCC or Thai Bev which intend to keep F&N listed, F&N's share price will fall when trading resumes on Monday," CIMB Research said.
However, the decline in F&N's share price will only have an impact of 1 to 4 Singapore cents on Thai Bev's sum-of-the-parts valuation, the brokerage said, adding that this was not a "big negative".
To read F&N statement, click
1210 (0410 GMT)
(teo.jionchun@thomsonreuters.com)(+6564035659)(Reuters Messaging: teo.jionchun.thomsonreuters.com@reuters.net)
