Stocks to watch: Mapletree Logistics Trust, Sembmarine

THE following companies saw new developments that may affect trading of their securities on Friday (Mar 31):

Mapletree Logistics Trust (MLT): The real estate investment trust’s manager said on Thursday that it is in the process of buying eight Asia-Pacific assets for over S$900 million. Separately, its manager announced on Friday that its private placement to partially fund the acquisition closed at the issue price of S$1.649 per unit, the high end of its proposed range. Shares of MLT closed at S$1.70 on Wednesday before it requested a trading halt the following day. The counter resumes trading on Friday. 

Sembcorp Marine (Sembmarine): The company and its consortium partner GE Renewable Energy’s Grid Solutions have jointly secured a framework cooperation agreement for three contracts for offshore renewable projects, worth six billion euros (S$8.7 billion). Shares of Sembmarine closed flat at S$0.115 on Thursday, after the announcement was made.