Stocks to watch: Keppel, Parkway Life Reit, Sabana Reit, Keppel Pacific Oak US Reit

THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 19):

Keppel Corporation : The group on Thursday announced the close of its China-focused sustainable urban renewable programme after securing an unnamed global institutional investor for initial equity commitments of 1.6 billion yuan (S$300 million). The programme will potentially have 3.9 billion yuan in assets under management when fully leveraged and invested. Keppel’s shares closed on Wednesday up 3.4 per cent or S$0.22 at S$6.32.

Parkway Life Real Estate Investment Trust (Parkway Life Reit): The healthcare-focused Reit is acquiring two nursing homes in Osaka for a total purchase price of 1.8 billion yen (S$16.4 million), or at about 11.9 per cent below valuation. Its manager expects the transaction to be completed by Q4 2023. Units of the Reit ended up S$0.01 or 0.3 per cent at S$3.66 on Wednesday, before the announcement.