Stocks to watch: Golden Agri, YZJ Maritime, Centurion Accommodation Reit, UltraGreen.ai, AHT, LMIRT

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Dec 10):

Golden-Agri Resources , YZJ Maritime , : The three counters were added to the iEdge Singapore Next 50 Index and the iEdge Singapore Next 50 Liquidity Weighted Index, said a Singapore Exchange (SGX) statement on Tuesday. They take the place of Samudera Shipping, Nanofilm Technologies International and Aztech Global. The update to the index constituents will be effective at the start of trading on Dec 22.

Shares of Golden Agri-Resources closed flat at S$0.275 on Tuesday; shares of YZJ Maritime closed 0.7 per cent or S$0.005 down at S$0.705. Units of Centurion Accomodation Reit closed 0.9 per cent or S$0.01 lower at S$1.07.

UltraGreen.ai : The former chief executive officer of SGX and lead independent director Hsieh Fu Hua bought 180,000 shares of the newly listed company when the market opened on Tuesday. Each share was bought at US$1.39. Shares of UltraGreen. ai debuted strongly, but fell below their initial public offering (IPO) price last week, prompting listing manager Citibank on Tuesday to buy about 2.7 million shares at US$1.37 to US$1.42 apiece as part of its post-IPO stabilising mandate. The shares rose 2.9 per cent on Tuesday to close US$0.04 higher at US$1.42.

Acrophyte Hospitality Trust (AHT) : The managers of the stapled group on Wednesday said it was proposing the sale of its property, the Hyatt Place Detroit Livonia, for US$10 million. The hotel was described as a non-core and underperforming asset, and the managers said the sale will help redeploy resources towards higher-performing assets in the portfolio. Net proceeds will be used to fund ongoing renovations of other properties, pare down existing borrowings, acquire accretive and higher yield properties, or as working capital. The counter closed flat at US$0.25 on Tuesday.

Lippo Malls Indonesia Retail Trust (LMIRT) : The manager of the trust on Tuesday launched a renounceable rights issue to raise about S$63 million. Each of the nine billion units will be issued at S$0.007, about half of the closing price of S$0.015 on Oct 31 when the rights issue was announced. Shareholders are eligible for 117 rights units for every 100 existing units. The bulk of the proceeds will go to existing loans and related financial obligations and/or the general working capital of the trust. LMIRT units ended 7.1 per cent or S$0.001 lower at S$0.013 on Tuesday.