Stock to watch: Singtel

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 17):

Singtel : The telco’s associate Intouch Holdings entered into a merger deal with Thailand’s Gulf Energy Development, which will result in the formation of a new public entity NewCo. On Tuesday, Singtel said that it intends to list the shares of NewCo on the Stock Exchange of Thailand. The telco will also book an estimated gain of S$400 million from the amalgamation. Shares of Singtel closed at S$3.05 on Tuesday, up S$0.04 or 1.3 per cent, before the announcement.