Stocks to watch: OCBC, Stoneweg E-Reit

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Thursday (Apr 3):

OCBC : The bank announced on Apr 2 that it plans to deploy £10 billion (S$17.4 billion) in financing over the next six years to support foreign direct investment into the UK. The funds will be channelled into “priority British growth sectors”, which include energy, transportation, infrastructure, data centres and real estate, by 2030. Separately, OCBC also announced on Thursday that it priced 500 million euros in fixed-rate covered bonds due 2028. Shares of OCBC closed on Wednesday up 0.06 per cent or S$0.01 at S$17.22.

Stoneweg European Real Estate Investment Trust (Stoneweg E-Reit): The manager announced on Thursday the proposed conversion of Stoneweg E-Reit into a stapled group comprising Stoneweg European Reit and Stoneweg European Business Trust. It will improve the Reit’s corporate structure for better tax efficiency and reduce reliance on passive income, making the stapled entity more resilient to market cycles, the manager said. The counter closed Wednesday 2 per cent or 0.03 euro higher at 1.54 euros.