Stocks to watch: Nan Fung, Noble Group
Nan Fung: One of Hong Kong's largest privately owned property developers, Nan Fung International Holdings, has raised its offer price for Forterra Trust to S$2.25 per unit from S$1.85.
The higher bid price for the Singapore mainboard-listed commercial real estate developer in China was announced on Monday morning, after Nan Fung acquired about 53.89 million units at S$2.25 apiece, bringing its stake to 51.76 per cent of the total number of issued units and 51.26 per cent of the maximum potential total units in Forterra.
Forterra Trust closed its counter on Monday at S$2.25, up 39 Singapore cents.
Noble Group: Mainboard-listed Noble Group has acquired San Juan Fuels, a Delaware limited-liability firm, for US$10 million, via two wholly owned subsidiaries.
Noble Americas Corp and Noble Americas Gas and Power Corp acquired 200 membership units in the issued unit capital of San Juan Fuels, LLC comprising its entire issued unit capital last Saturday, the firm said on Monday night. The purchase was entirely funded by the firm's internal cash resources.
The counter closed up S$0.025 at S$1.24 on Monday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Yen surges against US dollar on suspected intervention
Singapore stocks start week in the black ahead of Fed meeting; STI up 0.1%
Sembcorp announces long-term power purchase agreements with Equinix
Asia: Shares rise as Fed looms large; yen crumbles below key level
Singapore stocks decline at Monday’s open; STI down 0.3%
Stocks to watch: Singtel, Keppel, Great Eastern, Seatrium, Best World