Stocks to watch: Prudential, Cordlife

THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 14):

Prudential : The insurer told The Business Times (BT) on Wednesday that it has shelved plans for a separate wealth management unit in Singapore. It will instead refocus its wealth offerings in the Republic, as part of its new strategy. It said so in response to a media report that it was shutting its wealth management arm, Prudential Wealth Management Singapore, due to a change in strategy. Shares of Prudential on the Singapore Exchange closed flat at US$10.01 with no trades done, before the BT article was published. 

Cordlife Group : The mainboard-listed cord blood banking company updated on Wednesday that a possible transaction announced earlier in relation to its shares is not on the table anymore. The group said it had been notified that the confidential discussions between Cradle Investments and the third party in relation to a possible transaction have ceased. Prior to the update, the counter rose 2.4 per cent or S$0.01 to close at S$0.425.