Stocks to watch: Yangzijiang, CICT, OUE Lippo Healthcare, First Reit, Zheneng Jinjiang

THE following companies saw new developments that may affect trading of their securities on Wednesday (Dec 8):

Yangzijiang Shipbuilding (Holdings): (BS6) The mainboard-listed shipping company plans to spin off its investment segment in a listing on the Singapore Exchange mainboard, the board said in an update on Tuesday (Dec 7). The counter added S$0.03 or 2.3 per cent to close at S$1.32, before the latest announcement, with nearly 21.2 million shares changing hands.

Capitaland Integrated Commercial Trust (CICT): C38U The real estate investment trust on Wednesday priced its private placement at S$1.96, which is at the midpoint of the price range. The upsize option has also been exercised, bringing the total amount raised to S$250 million. Some S$150 million of the proceeds will be used to fund the acquisitions of 2 office buildings in Sydney, Australia. The counter closed flat at S$2.05 on Monday (Dec 6) before a trading halt was called. The counter resumes trading on Wednesday.

OUE Lippo Healthcare (OUELH) and First Reit: 5WA AW9U The Catalist-listed healthcare group is divesting its wholly-owned subsidiaries, which together own 12 nursing homes in Japan, to First Reit, for a consideration of S$163.5 million. The consideration comprises S$131.5 million in new First Reit units, S$15.8 million in cash and S$16.2 million in intercompany balances, assumed by First Reit, OUELH said on Wednesday. Shares of OUELH closed 2.7 per cent or S$0.001 higher at S$0.038 on Tuesday, while First Reit closed 3.4 per cent or S$0.01 higher at S$0.305.

Zheneng Jinjiang Environment: BWM The electric services company on Wednesday responded to the Singapore Exchange's query on its share price movements, saying a former senior executive had disposed of his shares and that accounted for the bulk of the trades conducted on Dec 7. The counter ended Tuesday S$0.1250 or 21.9 per cent lower at S$0.445 after 543 million shares changed hands.

Trading halt: Catalist-listed medtech company QT Vascular is staring down a possible do-over of a recent extraordinary general meeting, said its board in an update on Tuesday. The company called for a trading halt on Monday morning. Its shares last traded at S$0.007 on Friday (Dec 3).