Stocks to watch: CapitaLand Investment, CapitaLand China Trust, Frasers Hospitality Trust, TalkMed, Low Keng Huat, IReit Global

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Sep 12):

CapitaLand Investment (CLI) ; CapitaLand China Trust (CLCT) : CapitaLand Commercial C-Reit’s (CLCR) public offer was 535.2 times subscribed, said CLI on Friday. CLCR also achieved a subscription coverage of 254.5 times from institutional investors during the bookbuilding tranche of its Shanghai initial public offering (IPO). As joint strategic investors of the real estate investment trust, CLI, CLCT and CapitaLand Development will collectively hold 20 per cent of the IPO units. CLI shares ended Thursday flat at S$2.77; CLCT shares closed unchanged at S$0.79.

Frasers Hospitality Trust (FHT) : It is expected to delist on or around Oct 6 at 9 am and trading of its stapled securities is set to be suspended at 9 am on Friday, the managers said on Thursday. This comes as Frasers Property’s May proposal to buy out FHT at S$0.71 per stapled security, its second attempt to privatise the stapled group, succeeded in August after receiving investor backing. FHT’s stapled securities closed flat at S$0.71, before the announcement.

TalkMed : The healthcare provider on Thursday said that it will delist from the Singapore Exchange from 9 am on Sep 15. This comes as the Tamarind Health-managed special-purpose vehicle TW Troy, which offered to privatise the company at S$0.456 apiece via a scheme of arrangement, said it had completed the payment of the scheme consideration to TalkMed shareholders. Trading of TalkMed’s shares was suspended on Aug 22; the shares last closed at S$0.455 on Aug 21.

Low Keng Huat: The property developer sank into the red with a S$10.2 million net loss for its first half ended Jul 31, compared with a net profit of S$5.8 million in the year-ago period. Its revenue dropped as the Klimt Cairnhill project neared its end. With the development having reached 99 per cent completion, only the final 1 per cent of the project’s revenue was recognised for the current period, it said on Thursday. Shares of Low Keng Huat closed S$0.005 or 0.9 per cent higher at S$0.535, before the announcement.

IReit Global : Its German subsidiaries received a payment demand by the former tenant of its Berlin Campus, Deutsche Rentenversicherung Bund (DRV), the manager said on Thursday. The dispute comes as DRV sought a partial repayment of a lump sum 15.5 million euro (S$23.2 million) payment it had agreed to make earlier on, for dilapidation costs to restore the Berlin property to its original state. Claiming part of the payment to be unjustified, DRV is seeking a repayment of 8.4 million euros. Units of IReit Global closed flat at S$0.29, before the announcement.