Stocks to watch: IReit Global, Del Monte, OCBC, Great Eastern

THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 20).

IReit Global : The Europe-focused Reit has launched a preferential offering at a ratio of 161 preferential offering units for every 1,000 existing units at a price of S$0.408 per new unit. The proceeds of S$75.9 million will mostly be used to fund the acquisition of a portfolio of 17 retail properties located across France, according to the Reit’s manager, whose CEO is Louis d’Estienne d’Orves. Units of the Reit closed down 1.09 per cent or S$0.005 at S$0.455 on Monday, before the announcement.

Del Monte Pacific : The canned food brand posted a net loss of US$11.9 million for the fourth quarter ended Apr 30, reversing from US$20 million in net profit the previous year. On Tuesday, the group attributed its loss for the quarter to unfavourable operating conditions as well as higher interest rates. Shares of Del Monte Pacific ended Monday flat at S$0.215.