Stocks to watch: Ascendas Reit, Keppel Corp, Keppel DC Reit, CSE Global

THE following companies saw new developments that may affect trading of their securities on Tuesday (May 10): Ascendas Real Estate Investment Trust (Ascendas Reit): The real estate investment trust (Reit) proposed to acquire 7 logistic properties in Chicago, Illinois, United States for S$133.2 million. The proposed deal is expected to increase and diversify Ascendas Reit’s exposure to logistics properties in the US and across its portfolio, its manager said on Tuesday. Units of Ascendas Reit closed S$0.02 or 0.7 per cent lower at S$2.79 on Monday.

Keppel Corp: The wholly-owned subsidiaries of Keppel Offshore & Marine (Keppel O&M) have obtained agreements for the utilisation of 2 jackup rigs to be deployed in Saudi Arabia, which is expected to generate about S$135 million in revenue for Keppel O&M, said Keppel Corp in a press statement on Monday. Shares of Keppel Corp closed at S$6.69 on Monday, up S$0.10 or 1.5 per cent, before the latest filing was made.

Keppel DC Reit: The wholly-owned subsidiary of its trustee has priced 75 million euros (S$110.2 million) of fixed rate notes due 2028 at 2.6 per cent per annum, announced the Reit manager on Tuesday. Net proceeds from the issue will be used for general corporate purposes including refinancing existing indebtness of the Reit and its subsidiaries. Units of Keppel DC Reit ended Monday S$0.03 or 1.5 per cent lower at S$2.