FKP on the go (Today's SMH 10/09/09 xchange)FKP Property Group...

FKP on the go
(Today's SMH 10/09/09 xchange)

FKP Property Group has been the centre of attention in the property market in the past week, with the price rising about 13 per cent on sizeable turnover.

It has risen from a low of 21c in March to close at 77.5c yesterday, but remains a long way off the $5 that Lend Lease offered in June 2008.

There has been speculation that its 25 per cent owner, Malaysia's Mulpha, which recently raised $117.5 million, could use the proceeds to take outright ownership and sell the FKP retirement arm to Stockland.

Stockland owns 15 per cent of FKP and has first right of refusal over the FKP retirement assets.

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