Stocks to watch: Keppel Reit, CLI, MPACT, Ultragreen.ai, Ossia
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Dec 11):
CapitaLand Investment (CLI) : CLI has closed its second onshore sub-fund, China Retail RMB Fund I (CRF I), under the CLI RMB Master Fund, and secured a total fund size of one billion yuan (S$183 million). It announced plans to recapitalise CapitaMall Xinduxin to realise value through its sale as the seed asset to the sub-fund. Shares of CLI closed flat at S$2.59 on Wednesday, before the news.
Mapletree Pan Asia Commercial Trust (MPACT) : Its manager announced on Wednesday that that its subsidiary – Festival Walk – will sell Festival Walk Tower at nearly HK$2 billion (S$328.1 million) to an unrelated third party. The tower, which is the office component of Festival Walk in Hong Kong, has a lettable area of 213,982 square feet (sq ft) and seven tenants. Its purchase price was originally HK$2.3 billion, upon independent valuation back in 2021. Units of MPACT closed unchanged at S$1.42 on Wednesday.
Ultragreen.ai : The stabilising manager of Ultragreen.ai purchased about 2.3 million shares of the counter on Wednesday, marking the fifth stabilising action it has taken since the medical technology company’s initial public offering on Dec 3. Shares of the counter closed 1.4 per cent or US$0.02 higher at US$1.44 on Wednesday.
Ever Glory United Holdings : The Catalist-engineering services company on Wednesday made a public offer of up to two million new shares at S$0.64 per share. This comes as part of its proposed transfer to the SGX mainboard. If fully subscribed, Ever Glory United expects to raise net proceeds of around S$1.2 million, to be used for working capital. Shares of the counter last traded at S$0.695 on Dec 9, before a trading halt.
Ossia: Harvey Norman operator Ossia on Wednesday said it had set up a new special purpose vehicle, Ossia Capital, for holding its property investment entities. It will acquire all of privately-owned Global Ten Realty for S$5.5 million and has itself established a property investment unit, OSA 1, which will buy a leasehold property for S$14 million. Shares of Ossia ended flat at S$0.179 on Wednesday, before the announcement.
Trading halt: Keppel Reit requested a trading halt on Thursday morning, pending the release of an announcement. Later, the Reit manager announced it has agreed to acquire an additional one-third interest in Marina Bay Financial Centre Tower 3 for an agreed property value of S$1.45 billion. To fund the acquisition, it launched a preferential offering to raise gross proceeds of about S$886.3 million. Units of Keppel Reit closed flat at S$1.03 on Wednesday.
