Stocks to watch: FCT, Parkway Life Reit, KIT, ESR Reit, Nanofilm, Paragon Reit

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Tuesday (Apr 22).

Frasers Centrepoint Trust (FCT): The trust’s manager on Monday said that its preferential offering was 24.8 per cent oversubscribed. The manager received applications for 122,584,803 preferential offering units, against the 98,185,673 units offered. The offering was launched earlier this month at S$2.05 per unit. The issue price represented a 7.4 per cent discount to the volume-weighted average price of S$2.2136. The offering was made on the basis of 54 units for every 1,000 existing units held as at 5pm on Apr 3, to raise gross proceeds of about S$201.3 million. Units of FCT traded flat on Monday at S$2.21.

Parkway Life Real Estate Investment Trust (PLife Reit): The healthcare real estate investment trust’s manager on Tuesday posted a higher first quarter distribution per unit of S$0.0384, up 1.3 per cent from S$0.0379 in the previous corresponding period. Gross revenue for the quarter climbed 7.3 per cent to around S$39 million from S$36.3 million previously. Higher gross revenue arose primarily from the contributions of a nursing home acquired in Japan and 11 nursing homes acquired in France in H2 FY2024, though this was partly offset by the depreciation of the Japanese yen. Units of PLife Reit closed 0.5 per cent or S$0.02 higher at S$4.20 on Monday.