Stocks to watch: Nio, Sats, Sembcorp

THE following companies saw new developments that may affect trading of their securities on Monday (Sep 2):

Nio : The Chinese electric vehicle carmaker on Sunday announced it delivered 20,176 vehicles in August, 4.4 per cent more than the corresponding year-ago period. This marks the fourth straight month in which the company has delivered more than 20,000 cars. Class A ordinary shares of Nio on the Singapore bourse jumped 11.3 per cent to US$4.33 last Friday, ahead of the update.

Sats : The ground handler and in-flight caterer’s subsidiary Worldwide Flight Services Holland is proposing to acquire Menzies World Cargo (Amsterdam), the cargo handling arm of Menzies Aviation. Sats said this will increase Worldwide Flight Services Holland’s warehouse capacity and cargo handling capabilities. Shares of Sats fell 0.3 per cent or S$0.01 to close at S$3.65 on Friday, before the news.