Stocks to watch: Sembcorp, VCPlus
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THE following companies saw new developments that may affect trading of their securities on Friday (Nov 18):
Sembcorp : The group is buying a 45.3 per cent stake in a Chinese renewable energy company for 1.1 billion yuan (S$204 million). The transaction is due to be completed in the first half of 2023, and will be funded through internal cash resources and external borrowings. Sembcorp said that, upon completion, the acquisition is expected to be accretive to earnings. Its shares closed 5.2 per cent or S$0.15 higher at S$3.05 on Thursday, before the news.
VCPlus : Its subsidiary has received in-principle approval to provide custodial services for capital market products, including tokenised securities. Previously dealing in gold, the Catalist-listed company announced on Friday that it will solely be providing custodian and consultancy services in the fintech sector moving forward. Shares of VCPlus closed 28.6 per cent or S$0.002 lower at 0.005 on Thursday.
