Stocks to watch: OCBC, NTT DC Reit, IReit Global, Frencken, Addvalue Tech

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Sep 4):

OCBC : The bank on Friday said it has priced US$750 million worth of covered bonds under its US$10 billion global covered bond programme. The net proceeds will be used for general corporate purposes. The bonds, expected to be issued on Sep 11, will bear interest at 4.63 per cent per annum, payable semi-annually in arrear. Shares of OCBC rose 0.2 per cent to close S$0.07 higher at S$31.92 on Thursday.

NTT DC Reit : The manager of the real estate investment trust (Reit) on Thursday said the Reit will be included in the FTSE EPRA Nareit Global Developed Index from Sep 21. The inclusion is “expected to further enhance our visibility among global institutional investors and broaden our investor base”, said Yutaka Torigoe, CEO of the manager. Units of NTT DC Reit closed flat at US$0.94 on Thursday, before the announcement.

IReit Global : The manager of the Reit on Thursday announced that it completed the refinancing of its Spanish portfolio on improved terms. All of the refinanced exposure was hedged, with 97.4 per cent of total debt hedged post-transaction. While the weighted average all-in cost of debt of IReit’s total portfolio debt is expected to increase from 4.3 per cent to 4.6 per cent, the weighted average debt maturity is expected to improve from 2.2 years as at Jun 30 to 2.6 years. Units of IReit closed flat at S$0.163 on Thursday, before the news.

Frencken : The precision engineering company on Thursday announced it completed a private placement to raise about S$100 million. The placement saw 44.1 million new ordinary shares issued and was fully subscribed at S$2.2687 per new share. The shares will begin trading on Friday. The counter fell 0.9 per cent to close S$0.02 lower at S$2.25 on Thursday, before the announcement.

Addvalue Technologies : The company on Friday said it secured new orders of US$5 million under its space connectivity-related and advanced digital radio businesses. These are expected to raise its FY2027 growth. The group’s order book now stands at about US$20.2 million. The new orders are set to be “substantially fulfilled” in the next 12 months and have a material positive impact on the current financial year. The counter rose 0.5 per cent to close S$0.001 higher at S$0.193 on Thursday.