Stocks to watch: Del Monte, Revez

THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 8):

Del Monte Pacific : The canned food brand posted a net profit of US$49.5 million for the second quarter ended Oct 31, rising 38 per cent on year due to a notable rise in gross margin for its US subsidiary, Del Monte Foods Inc. Together with the release of its financial statements, the group also announced plans to redeem its US$100 million Series A-2 preference shares on Dec 15. Shares of Del Monte Pacific ended Wednesday flat at S$0.315, before the news.

Revez Corporation : The Catalist-listed digital services company on Wednesday received a mandatory offer for all its shares from two of its investors who now hold a total 58.6 per cent stake in the company. The offer was made at S$0.0306 per share, which is 66 per cent below the last-transacted price of S$0.09 per share. Revez Corp closed flat at S$0.09, prior to the news.