Stocks to watch: Sats, Aspial Lifestyle

THE following companies saw new developments that may affect trading of their securities on Friday (Dec 2):

Sats : The inflight caterer and ground handler is planning to raise S$800 million via a renounceable underwritten rights issue to partially fund its acquisition of air cargo handler Worldwide Flight Services. The rights issue is expected to be launched in the first quarter of next year. Shares of Sats ended Thursday S$0.08 or 3 per cent higher at S$2.75, before the news. 

Aspial Lifestyle : The group’s Malaysian subsidiary is acquiring a 65 per cent stake in Maxion Holdings, an investment holding company whose principal activity is pawnbroking, for some RM30.7 million (S$9.4 million). Prior to the announcement, shares of Aspial Lifestyle closed flat at S$0.08 on Thursday.