Stocks to watch: EC World Reit, ESR-Logos Reit, CapitaLand Ascendas Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Oct 1):

EC World Real Estate Investment Trust (EC World Reit) : Its manager on Monday announced plans to dispose of indirect interests in two Stage 1 assets at the agreed property values of 1.2 billion renminbi (S$235.7 million) and 820 million renminbi respectively. Proceeds from the transaction will be used to finance the repayment of existing loans, with some 450.9 million renminbi of net proceeds to be distributed to unitholders. The Reit ended Friday flat at S$0.50.

ESR-Logos Reit : It will not redeem its outstanding securities of its S$150 million, 4.6 per cent perpetual securities. Instead, the trust announced last Friday that the distribution rate would be reset on Nov 3 to a rate equivalent to the prevailing Swap Offer Rate, plus the initial rate of 2.6 per cent per annum. ESR-Logos Reit units ended flat at S$0.36 prior to the announcement.