Stocks to watch: LHN, Keppel Infra Trust, SGX, Nutryfarm, Union Gas

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

41O: The property player on Friday announced it will be placing out 6.5 million new shares under its general mandate at 33.51 Singapore cents each. Assuming that all the shares are fully placed out, LHN is expecting net proceeds of S$2.1 million which it intends to use for general working capital purposes, including renovation costs of the group's properties as well as operating expenses. Shares of LHN closed S$0.01 or 2.7 per cent lower at S$0.37 on Thursday.

A7RU: Its trustee-manager Keppel Infrastructure Fund Management's chief executive Matthew Pollard will step down from July 31 to "pursue other opportunities in the region", and will be replaced by Jopy Chiang, senior vice-president for investments at Keppel Capital, from Aug 1, the trustee-manager announced after market close on Thursday. Separately, it announced earlier in the day that it will make an additional arbitration provision of S$23.8 million for its Australian subsidiary Basslink. Keppel Infrastructure Trust units closed flat at S$0.56 on Thursday.

S68: The bourse is seeking market feedback on proposed amendments to its derivatives clearing rules and the SGX Derivatives Trading futures trading rules, in relation to the "Gift Connect" trading link with India's National Stock Exchange, under which Nifty futures contracts on the Singapore Exchange (SGX) are executed in India's special economic zone. Shares of SGX closed at S$10.43 on Thursday, down 0.4 per cent or S$0.04.

AZT: Its unit, Global Agricapital Holdings, has entered into a joint venture with retailer Kong Jun Durian to sell pre-packed durians in Singapore, the mainboard-listed company announced in a bourse filing on Thursday night. The joint venture company will have an initial issued and paid-up share capital of S$10,000, with 51 per cent owned by Global Agricapital and the remainder by Kong Jun. Shares of Nutryfarm closed flat at 32.5 Singapore cents on Thursday.

1F2: The fuel products provider, which was listed on the Catalist in July 2017, has received in-principle approval from the SGX to transfer from the junior Catalist board to the mainboard, subject to shareholders' approval. It aims to achieve greater visibility and market recognition. Shares of Union Gas closed at 95.5 Singapore cents on Thursday, down 1 per cent or one cent.

Trading Halt: Powermatic Data Systems (BCY) requested a trading halt on Friday morning before market open, pending an announcement. The counter closed flat at S$2.68 on Thursday.