Stocks to watch: OCBC, CapitaLand Investment, Singtel, First Sponsor
THE following companies saw new developments that may affect trading of their securities on Monday (Jul 15):
OCBC : The lender and its concert parties garnered 93.52 per cent of shares in Great Eastern Holdings (GEH) as at the close of its offer on Jul 12, lower than the 98.87 per cent shareholding needed to trigger a compulsory acquisition, and short of the 97.17 per cent level at which frontline regulator SGX RegCo may have directed Great Eastern to make an offer to delist. Existing GEH shareholders who have yet to accept OCBC’s offer can still do so, as the bank and its concert parties hold more than 90 per cent of the insurer’s shares. These shareholders will receive a notice by Jul 24, after which a three-month period when they can exercise the right to encash their shares will kick in. Shares of OCBC closed 0.5 per cent or S$0.08 higher at S$15.28 on Friday.
CapitaLand Investment (CLI): The asset manager has raised one billion yuan (S$186 billion) from the second tranche of its sustainability-linked bonds in China, after amassing the same amount from an earlier tranche in March this year. The latest issuance was made at a fixed coupon rate of 2.8 per cent per annum, which CLI said was a “record low” among bonds of its kind. Shares of CLI ended Friday S$0.13 or 4.9 per cent higher at S$2.81.
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