Stocks to watch: OCBC, Keppel, Sabana Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jan 10):

OCBC : The lender has priced S$450 million in perpetual capital securities at 4.05 per cent under its US$30 billion global medium-term note programme. They are first callable in 2029 and are intended to qualify as OCBC’s Additional Tier-1 capital, announced the bank on Wednesday. Net proceeds will be used for general corporate purposes. The counter ended Tuesday S$0.08 or 0.6 per cent higher at S$12.88.

Keppel : The conglomerate said on Tuesday that its infrastructure division has signed a multi-year power purchase agreement with semiconductor manufacturer GlobalFoundries. Under the deal, Keppel will provide 150 to 180 megawatts of electricity each year to power GlobalFoundries’ Singapore operations. Keppel shares closed at S$6.95, up S$0.01 or 0.1 per cent, before the announcement.

Sabana Industrial Real Estate Investment Trust (Sabana Reit): The Reit’s trustee – HSBC Institutional Trust Services – has filed a court application on Tuesday to seek a declaration that amendments to the trust deed are required. This is to implement the resolutions approved at the extraordinary general meeting on Aug 7, 2023. Units of Sabana Reit closed flat at S$0.40 on Tuesday, before the news.