Stocks to watch: Addvalue Technologies, Coliwoo, Elite UK Reit, Foundation Healthcare

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 15):

Addvalue Technologies : The satellite communications company is preparing for its potential spinoff listing on Nasdaq and has engaged professionals such as legal counsels and a US auditor, it said on Tuesday. It will also convene an in-person extraordinary general meeting in due course to seek shareholders’ approval for the proposed spinoff of the group’s unit Addvalue Solutions. Shares of Addvalue Technologies ended 3.9 per cent or S$0.005 higher at S$0.133, before the news.

Coliwoo : The company on Tuesday said that it will open a new property, Coliwoo Resort Changi, this month. The site is a former state-owned holiday chalet along Jalan Loyang Besar with 380 rooms, and is the group’s third-largest property. It will be Coliwoo’s first resort-style co-living hotel. The counter ended 1.1 per cent or S$0.005 higher at S$0.48 on Tuesday, before the announcement.

Elite UK Reit : The manager of the real estate investment trust (Reit) said it received in-principle Singapore Exchange approval on Tuesday for the listing of new units. The units will be used to partially fund the purchase of five government-leased UK properties for £31.9 million (US$42.7 million). About £7.4 million will be raised through the private placement. Units of Elite UK Reit fell 1.6 per cent or £0.005 on Tuesday to close at £0.305, before the news.

Foundation Healthcare : The newly listed healthcare company’s stabilising manager UBS on Tuesday purchased 850,000 shares of Foundation Healthcare. Each share cost between S$0.705 and S$0.715, it said. This followed UBS buying 4.5 million of its shares on Jul 9, with each of those shares priced between S$0.705 and S$0.735. Shares of Foundation Healthcare rose 1.4 per cent or S$0.01 to close at S$0.705 on Tuesday, before the news.