Stocks to watch: MIT, Top Global, OUE C-Reit, Procurri, AEM, Sabana Reit, Jumbo

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

ME8U: Its trustee on May 3 priced S$300 million of perpetual securities at 3.15 per cent. In a bourse filing on Tuesday morning, MIT's manager said the issuance drew strong participation from a broad spectrum of investors, resulting in oversubscription which led to a tighter price from the initial guidance of 3.375 per cent. MIT units closed S$0.02 or 0.7 per cent lower at S$2.81 on Monday.

BHO : Executive director and controlling shareholder Sukmawati Widjaja acquired nearly 1.2 million shares of the company at S$0.39 apiece on Monday. This raises the stake of SW Investment Holding, which the offer was made through, to 87.3 per cent as at May 3. The counter closed 1.3 per cent or half a Singapore cent higher at 39 cents on Monday.

TS0U : The Reit will redeem S$155 million of convertible perpetual preferred units on June 1, it said in an exchange filing on Monday. It released an irrevocable redemption notice on Monday for the convertible securities, which were issued as part of the payment for a stake in downtown office building One Raffles Place. Units of OUE C-Reit closed 1.2 per cent or 0.5 Singapore cent lower at 40 cents on Monday before the announcement.

BVQ: The partial offer to acquire a 51 per cent stake in technology company Procurri by Novo Tellus has lapsed. The offeror received valid acceptances of about 8.55 per cent of the total shares as at the closing date on Monday, bringing its shareholding to 37.37 per cent. Some 37.2 per cent of independent shareholders voted in favour of the deal, and the remaining voted against, short of the 50 per cent required to get the deal through. Units of Procurri closed flat at S$0.35 on Monday prior to the announcement.

AWX: The mainboard-listed company reported a decline in first-quarter earnings year on year, citing a high revenue base in a business update on Monday. Net profit fell by 63.1 per cent to S$13.3 million for the three months to March 31, while revenue was down 45.4 per cent to S$80.2 million. AEM closed 1.2 per cent or S$0.05 lower at S$4.05 on Monday prior to its update.

M1GU: The Reit's co-founder Tay Chiew Sheng was fined S$8,000 on Monday after pleading guilty to two counts of harassment. Units of the Reit closed flat on Monday at S$0.42 before the announcement.

42R: The Catalist-listed seafood restaurant operator said on Monday that it expects a net loss for the first half-year to March 31 due to the "long-drawn Covid-19 pandemic" in its home market of Singapore, in a profit guidance on Monday. Based on the group balance sheet and liquidity, the company said there is no imminent difficulty in meeting working capital needs. Shares of Jumbo closed flat at S$0.35 on Monday prior to the announcement.

Trading halt: Jasper Investments requested a trading halt on Tuesday pending the release of announcements. Shares of the company closed flat at 0.4 Singapore cent on Monday.