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Stocks to watch: Ezra, Hyflux, Spackman, Cache Logistics Trust


The following companies made announcements that may affect trading on Tuesday:

Ezra Holdings is planning to raise up to US$300 million through a rights issue and the issue of convertible bonds to repay existing debt. This is part of a broader strategy to expand its capital and investor base, deleverage and secure the group's long-term growth prospects, said its CFO Eugene Cheng in an announcement on Saturday.

Hyflux on Tuesday morning said it has won a US$48 million contract from Saudi Arabia's state-owned Saline Water Conversion Corporation to build a desalination plant with a daily capacity of 30,000 cubic metres. This is expected to contribute to its results for the current financial year.

A subsidiary of Spackman Entertainment Group has raised US$7 million through a share placement and capital injection. This will go towards investments in entertainment-related businesses that can diversify the group's current exposure to the Korean entertainment sector, it said in an announcement on Tuesday morning.

Cache Logistics Trust is selling a warehouse to JTC for S$9.7 million. The transaction, which will be completed by this month, represents an opportunity for Cache to recycle its capital, and to reduce existing debt, the Reit manager said.