Stocks to watch: DFI Retail Group, Frasers Centrepoint Trust, ESR Reit, GuocoLand, Yeo Hiap Seng

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Tuesday (Mar 25).

DFI Retail Group : The supermarket and retail store operator on Monday announced the divestment of its Singapore food business to South-east Asian retail conglomerate Macrovalue (Malaysia). Macrovalue will fully acquire Cold Storage Singapore, which comprises 48 Cold Storage stores, 41 Giant stores, as well as two distribution centres. The initial purchase price is S$125 million – subject to adjustments, with the transaction expected to complete in the second half of 2025, said DFI. Following the divestment, DFI will pivot its focus and resources in Singapore towards the Guardian and 7-Eleven businesses. Shares of DFI closed 4 per cent or US$0.09 higher at US$2.34 on Monday.

Frasers Centrepoint Trust : The manager on Tuesday announced it has entered into unit purchase agreements with FCL Amber and Bright Bloom Capital, respectively, to acquire the South Wing of Northpoint City in Yishun for S$1.17 billion. The manager intends to finance the acquisition by utilising the net proceeds raised from the issuance of new equity launched on Tuesday. This comprises a private placement offering to raise approximately S$200 million, and a preferential offering to raise about S$200 million; debt financing; as well as the potential issuance of subordinated perpetual securities of approximately S$200 million. Units of FCT closed 0.5 per cent or S$0.01 higher at S$2.21 on Monday. The trust called for a trading halt on Tuesday morning.