Stocks to watch: CapitaLand Ascott Trust, Cromwell E-Reit, World Precision

THE following companies saw new developments that may affect trading of their securities on Monday (Oct 9):

CapitaLand Ascott Trust (Clas): It will seek approval from stapled securityholders at an extraordinary general meeting on Oct 24 for interested person transactions involving the S$530.8 million acquisition of three lodging assets in London, Dublin and Jakarta, as well as the proposed renewal of three French master leases, Clas’ managers said on Monday. Its counter closed 2.7 per cent or S$0.025 lower at S$0.895 on Friday. 

Cromwell European Real Estate Investment Trust (Cromwell E-Reit): The divestment of Viale Europa 95 in Bari, Italy, was completed at 94 million euros (S$135.4 million), announced its manager on Monday. The sale consideration represents a 13.1 per cent premium over Viale Europa’s 2017 purchase price of 83.1 million euros, and is about 28.2 per cent above the asset’s valuation as at end-2022. Units of the Reit ended Friday two euro cents or 1.6 per cent lower at 1.27 euros.