Stocks to watch: HPL, IReit Global, Sabana Reit, ICP

THE following companies saw new developments that may affect trading of their securities on Friday (Jul 14).

Hotel Properties Limited (HPL): Its co-founder and managing director Ong Beng Seng has been asked by the Corrupt Practices Investigation Bureau (CPIB) to provide information on his interactions with Transport Minister S Iswaran, who is currently on a leave of absence. Ong was issued a notice of arrest and has posted bail of S$100,000, said HPL on Friday. The counter ended Thursday S$0.01 or 0.3 per cent lower at S$3.86.

IReit Global : The Europe-focused real estate investment trust (Reit) has received a total of 250.7 million valid acceptances and excess applications, or 134.7 per cent of the total number of preferential offering units available, at the close of its offering on Jul 11. Valid acceptances came to 77.3 per cent. The Reit will issue about 186.1 million preferential offering units to raise gross proceeds of S$75.9 million. Units of the Reit closed flat at S$0.425 on Thursday, before the announcement.