Stocks to watch: OCBC, CapitaLand Investment, Sasseur Reit, Thakral

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jun 9).

OCBC : The bank has made a S$900 million conditional exit offer at S$30.15 per share for the 6.28 per cent stake in Great Eastern it does not own, in a bid to delist the insurer. The offer, which OCBC said on Friday was made “at the request of Great Eastern”, will resolve the latter’s 11-month suspension in share trading, while “providing its shareholders an exit at a fair and reasonable price”. If the exit offer is not approved, shareholders will have to vote on a bonus issue to increase the public float. Shares of OCBC closed 0.3 per cent of S$0.05 higher at S$16.28 on Friday.

CapitaLand Investment (CLI) : The company has raised additional capital from new and existing institutional investors for its value-add lodging private fund. This includes the acquisition of a prime mixed-use asset in Japan valued at over 30 billion yen (S$267.2 million). As a result, CLI’s funds under management will also increase by around S$470 million, as it holds a stake of about 20 per cent in the fund. Shares of CLI closed 0.8 per cent or S$0.02 higher at S$2.56 on Friday.