Stocks to watch: OCBC, Great Eastern, SingPost, Best World, LMIRT, Cordlife
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THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 25):
OCBC , Great Eastern : OCBC and concert parties have garnered 90.16 per cent of the shares in Great Eastern, said the lender. But no delisting is in sight as the bank’s offer for its insurance subsidiary has been deemed not fair but reasonable. As the number of Great Eastern shares held by the public has now fallen below the 10 per cent threshold, the counter will be suspended from trading after OCBC’s offer closes on Jul 12. Shares of OCBC closed 1.1 per cent or S$0.15 higher at S$14.31, and shares of Great Eastern were up 0.4 per cent or S$0.09 at S$25.70 on Monday, before the announcement.
Singapore Post : The national postal service provider on Monday said it has settled long-drawn-out legal proceedings with a shares seller. The terms of the settlement are confidential but SingPost said that there was no admission of liability. Shares of SingPost closed 1.1 per cent or S$0.005 lower at S$0.45, before the news.
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