Stocks to watch: City Developments Ltd

THE following company saw new developments that may affect trading of its securities on Tuesday (Mar 5):

City Developments Limited (CDL): The property giant is close to sealing a 244 million euro (S$356 million) deal to buy the Hilton Paris Opera hotel from asset management giant Blackstone. The group is “currently engaged in discussions on the potential acquisition” of the 268-key hotel, CDL told The Business Times on Monday. The counter closed 1.4 per cent or S$0.08 lower at S$5.62, before the news.

Trading halt: Jiutian Chemical Group called for a trading halt on Tuesday morning before the market opened, pending the release of announcements. The counter closed at S$0.024, down 4 per cent or S$0.001, on Monday.