Stocks to watch: CapitaLand, Hi-P, GHY Culture & Media, SLB, Cromwell E-Reit

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

CapitaLand: The property giant is in advanced talks with several tenants that will increase occupancy at 79 Robinson Road substantially, its managing director (workspace and residential), Chew Peet Mun, told The Business Times. CapitaLand also remains bullish on the future of flexible workspaces, and is preparing to open its second Bridge+ in Singapore. CapitaLand shares closed flat at S$3.29 on Thursday.

Hi-P International: A vehicle owned by its chairman and controlling shareholder Yao Hsiao Tung on Friday made a voluntary unconditional offer for all shares of the company, other than shares already held by the offeror, at S$2 each, with a view to delist the company from the Singapore Exchange (SGX). Hi-P shares last traded at S$1.81 on Dec 15, before a trading halt was called. The trading halt was lifted on Friday morning.

Singapore Exchange: The bourse operator will launch a China-linked steel derivative as economic activity recovers from pandemic lows. SGX is hoping to ride on the industrial rebound in China - a top producer and consumer of steel and also the first economy to come out of the Covid-19 crisis. SGX's stock ended at S$9.28 on Thursday, up $0.01 or 0.1 per cent.

GHY Culture & Media Holding: The entertainment and content provider's shares will begin trading on Friday morning on SGX's mainboard. Its initial public offering, priced at S$0.66 per share, saw the public tranche 16 times subscribed.

SLB Development, Lian Beng Group: SLB, the property development arm of construction firm Lian Beng, has completed its acquisition of Thye Hong Centre. SLB will now seek shareholders' approval for the deal by way of ratification at an extraordinary general meeting, it said on Thursday after market close. Shares of Catalist-listed SLB rose 5 per cent or 0.5 Singapore cent to finish at 10.5 cents, while mainboard-listed Lian Beng shares fell 1.2 per cent or 0.5 cent to 41 cents.

Cromwell European Real Estate Investment Trust (Cromwell E-Reit): Paul Weightman will resign on Dec 31 as non-independent non-executive director of Cromwell E-Reit's manager. This comes as Mr Weightman is retiring as chief executive officer of the Reit's sponsor, Cromwell Property Group. The counter closed 0.5 euro cent or 1 per cent lower at 47.5 cents on Thursday, before the announcement.

Trading halt: Tianjin Zhong Xin Pharmaceutical Group requested a trading halt at 4.39pm on Thursday, after which it said a proposed share acquisition by the mainboard-listed group's controlling shareholder may have been behind its share price surge earlier in the day. SGX queried the company after its stock rose more than 11 per cent on Thursday morning. It was trading 16 per cent higher at US$1.09 before the halt.