Stocks to watch: SATS, Keppel Corp, Nanofilm

THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 29):

SATS : It has entered into an agreement to acquire Paris-based air cargo handler Worldwide Flight Services for a maximum total consideration of about 1.3 billion euros (S$1.9 billion), announced the inflight caterer and ground handler on Wednesday. SATS intends to fund the acquisition through an equity fundraising worth S$1.7 billion. The group ended Tuesday S$0.03 or 0.8 per cent lower at S$3.87 before it called for a trading halt the following morning. It resumes trading today.

Keppel Corporation : A wholly-owned subsidiary of the group’s offshore and marine (O&M) arm has secured a repeat contract for a newbuild floating production, storage and offloading vessel worth about US$2.8 billion. This will bring Keppel O&M’s net orderbook to some S$11.8 billion as at Sep 28, the highest since 2007, announced the group on Wednesday. Shares of Keppel Corp closed at S$6.76, down 3 per cent or S$0.21, prior to the announcement.