Stocks to watch: Keppel Corp, PropNex, Apac Realty, Singapore Medical Group
Patricia Karunungan
THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 24):
Keppel Corporation : The group will hold its extraordinary general meeting to vote on the proposed merger of its offshore and marine (O&M) unit with Sembcorp Marine online at 3 pm on Dec 8, it said on Wednesday. Its directors recommend shareholders vote in favour of the deal. Shares of Keppel Corp ended S$0.02 or 0.3 per cent higher at S$7.43, before the news.
PropNex , Apac Realty : According to a Straits Times report citing data from Huttons Asia, at least 640 of the 700 property agents who left Apac Realty’s ERA in 2022 have joined rival real estate company PropNex. PropNex continues to be the largest agency in Singapore with 12,060 property agents as of Wednesday, ERA Realty is in second place with close to 8,500 agents. Shares of PropNex closed at S$1.60, down S$0.01 or 0.6 per cent; Apac Realty closed flat at S$0.565.
Singapore Medical Group (SMG): The closing date for the voluntary conditional general offer to take SMG private has been extended to Dec 5, which is also the final day for the offer to become unconditional. It is currently conditional upon TLW Success – the offeror – holding more than 90 per cent of SMG at the offer’s close. SMG said on Wednesday that TLW had obtained valid acceptances representing about 89.35 per cent of its total shares in issue. TLW intends to make SMG its wholly-owned subsidiary and does not plan to retain its listing status. Shares of SMG ended 1.3 per cent or S$0.005 higher at S$0.40 after the announcement.
