Stocks to watch: Keppel, ValueMax, Raffles Education, Nio
Daphne Yow
THE following companies saw new developments that may affect trading of their securities on Wednesday (Jun 21).
Keppel : The conglomerate has obtained a contract to design, build, own and operate a new large-scale district cooling system plant in the Jurong Lake District for 30 years, during which it expects to generate about S$950 million. The index counter closed on Tuesday down 5.2 per cent or S$0.36 at S$6.60, before the announcement.
ValueMax Group : The mainboard-listed group launched an issue of unsecured commercial paper in digital securities at an interest rate of 5.15 per cent with a maturity of three months. It expects to raise S$10 million to S$20 million from accredited and institutional investors from the issuance, to be listed on the SDAX digital platform. ValueMax shares closed flat at S$0.325 on Tuesday, before the announcement.
Raffles Education : The private education provider on Wednesday announced it is putting up its Raffles Education Square property for sale again through a public tender, with a guide price of S$200 million. The company had previously launched an expression-of-interest exercise for the property in August 2021. Shares of Raffles Education closed on Tuesday down 1.8 per cent or S$0.001 at S$0.054.
Nio : The electric vehicle maker has entered into a share subscription agreement with CYVN, an investment vehicle majority owned by the Abu Dhabi government, which will invest US$738.5 million in cash to subscribe for about 84.7 million newly-issued Class A ordinary shares of Nio at US$8.72 apiece. Nio shares closed down 4.5 per cent or US$0.42 at US$8.96 on Tuesday, before the news.
