Stocks to watch: Singtel, Yangzijiang, Geo Energy, Wilmar, Yanlord, Pegasus Asia, Metech

THE following companies saw new developments that may affect trading of their securities on Friday (Jan 21):

Singtel: Z74 The telco on Friday said it has acquired a 16.3 per cent stake in Indonesia's Bank Fama International for a cash consideration of 500 billion rupiah (S$48 million), to pursue banking opportunities in Indonesia. Grab - Singtel's partner in a digital banking joint venture in Singapore - is also an investor in Fama. Shares of Singtel closed flat at S$2.47 on Thursday.

Yangzijiang Shipbuilding: BS6 The shipbuilding company is putting 900 million yuan (S$190.9 million) into an upcoming venture capital investment fund focused on sectors such as healthcare and the green economy, the board announced on Thursday. Its subsidiary has entered into a limited partnership agreement with Tibet Gold Investment Management for a 90 per cent stake in the fund, which Tibet Gold manages as the sole general partner. The counter closed at S$1.34, up S$0.02 or 1.5 per cent, before the announcement.

Geo Energy Resources: RE4 : RE4 0% Three of its operating coal mines will resume export sales following the Indonesian Ministry of Energy and Mineral Resources’ Jan 20 announcement to lift the country’s coal export sales ban for 139 coal mining companies. Shares of Geo Energy closed flat at S$0.33 on Thursday (Jan 20), before the group released its statement on Friday morning.

Wilmar International: F34 The mainboard-listed agri-business will be listing its Adani Wilmar joint venture on the Securities and Exchange Board of India, after it filed its prospectus with the Registrar of Companies in Gujarat this week. In a bourse filing on Thursday, the company said that the proposed initial public offering (IPO) will issue up to 36 billion rupees (S$651 million) in new shares, with a face value of 1 rupee apiece. Wilmar shares gained S$0.05 or 1.2 per cent to S$4.34 on Thursday, before the announcement.

Yanlord Land Group (Yanlord): Z25 The mainboard-listed real estate developer has sold all 226 apartments in the second phase of a Shanghai residential project's launch, clinching about 4.02 billion yuan from a Tuesday pre-sale launch, the group announced in a bourse filing on Thursday. The Yanlord Arcadia development had previously sold 299 units for 5.08 billion yuan in a pre-sale launch in November 2021. Yanlord shares closed at S$1.14, up S$0.01 or 0.9 per cent, before the announcement.

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Pegasus Asia: The special property acquisition company has raised S$23.4 million in its IPO, which was 7.8 times subscribed, the company announced on Thursday. Its 25.6 million units, of which 25 million are for an international placement and the remaining 600,000 for public offer, comprises 1 share and half a warrant at S$5 per unit. Units of Pegasus will start trading on the Singapore Exchange mainboard at 9 am on Friday.

Metech International: V3M The Catalist-listed investment holding company has been issued a Trade with Caution alert on its shares by the Singapore Exchange Regulation, following "unusual volume movements in its shares" from Nov 1, 2021 to Jan 19, 2022. Prior to the announcement, Metech shares were up S$0.04 or 19.1 per cent to S$0.25 on Thursday.

Nutryfarm International: AZT The mainboard-listed group will resume trading on Friday after the durian and health food distributor announced it did not disclose any potential developments involving third-party loans or legal proceedings against the company when queried by the Singapore Exchange, as it was "premature" to do so. It had called for a trading halt on Tuesday to check with its creditor whether there were developments that the company was unaware of, it said in a bourse filing on Thursday. Nutryfarm shares last traded at S$0.099, down S$0.016 or 13.9 per cent, before trading stopped at 11.23 am on Tuesday.