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Stocks to watch: CNA, Noble, KepCorp, Matex
THE following stocks had announcements that could affect trading activity on Thursday.
Mainboard-listed CNA Group on Thursday announced that its wholly-owned subsidiary, CNA-HTE Vietnam, has signed a letter of intent with Vietstar Airlines Multirole Corporation for a US$70 million (S$95.8 million) mechanical, electrical and plumbing contract for a terminal complex for Vietstar Airlines. This would be on a 180,000 sq m site in Ho Chi Minh City, Vietnam. The terminal is expected to be completed in about 18 to 20 months and operational by early 2017.
Noble Group on Thursday said it has repurchased US$20 million of the 3.625 per cent US dollar fixed rate medium term notes due in 2018 that were issued in March 2013. It said the purchase represents about 5 per cent of the total aggregate principal amount of the notes. The repurchased notes had been cancelled on Wednesday in line with the terms and conditions of the notes, it added.
Keppel Corp's surprise failed takeover bid for its mainboard-listed property arm, Keppel Land, has resulted in its counter closing six cents down at S$8.94 on Wednesday. KepLand shares were suspended from trading on Wednesday, after having fallen a cent to S$4.45 on Tuesday.
The failed buyout follows KepCorp's failure to hit the compulsory acquisition threshold required for the higher offer price of S$4.60 per share to kick in for its KepLand buyout.
Mainboard-listed Matex International on Wednesday said it would become an operator of four thermal coal mines in China through a S$475 million reverse takeover.
The textile specialty chemical maker has entered into a conditional sale and purchase agreement with Australia-listed Blackgold International Holdings to buy its wholly-owned Hong Kong subsidiary Blackgold Holdings HongKong. Under the deal, S$25 million is to be paid in cash, and the rest through the issuance of new shares.