Stocks to watch: CapitaLand Investment, Silverlake Axis, Ossia International

THE following companies saw new developments that may affect trading of their securities on Tuesday (Sep 3):

CapitaLand Investment (CLI): It has agreed to sell a 50 per cent interest in Ion Orchard and its connecting underpass, Ion Orchard Link, to CapitaLand Integrated Commercial Trust (CICT) for an estimated purchase consideration of S$1.1 billion. On Tuesday, CICT’s manager said it will finance the transaction with proceeds from a private placement and a preferential offering. Shares of CLI closed Monday S$0.02 or 0.7 per cent lower at S$2.69, while CICT units were up S$0.01 or 0.5 per cent to S$2.13 before the trust requested a trading halt on Tuesday morning.

Silverlake Axis : It has appointed PrimePartners Corporate Finance to be its independent financial adviser (IFA) regarding the voluntary unconditional offer it received to take the company private at S$0.36 in cash per share. The IFA will advise the directors of Silverlake Axis, who will subsequently make a recommendation to shareholders about the offer. The counter closed flat at S$0.375 on Monday, before the news.