Stocks to watch: mm2 Asia, Yangzijiang Shipbuilding, Stamford Land, LHN, Shanghai Turbo
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Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Monday (Sep 26):
mm2 Asia : The entertainment group has entered into a bond subscription agreement with brokerage UOB Kay Hian for a S$54 million bond deal that is exchangeable for shares of mm2’s cinema business, mm Connect. Proceeds from the bond deal will be used to refinance existing debt, announced the group on Sunday. The counter ended Sep 22 at S$0.048 before trading was halted the following morning. It resumes trading on Monday.
Yangzijiang Shipbuilding : Responding to queries over “unusual price movements” after its share price surge on Friday afternoon, the group said the trading activity could be linked to 2 media reports in connection to its Sep 8 announcement about its entry into a technical assistance and licence agreement with France-based Gaztransport & Technigaz. Some S$183 million of its shares had changed hands and the stock closed 12.7 per cent or S$0.14 higher at S$1.24 on Friday, before the response was issued.
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