Stocks to watch: Sats, CapitaLand India Trust, OxPay

THE following companies saw new developments that may affect trading of their securities on Thursday (Jan 19):

Sats : Shareholders of the corporation have voted in favour of its plan to acquire Paris-based air cargo handler Worldwide Flight Services in an extraordinary general meeting held on Wednesday. The acquisition is expected to cost Sats S$1.8 billion, to be raised through a combination of a renounceable underwritten rights issue, a term loan, and the company’s internal cash balances. The counter closed at S$2.94 on Wednesday, up S$0.02 or 0.7 per cent, before the announcement.

CapitaLand India Trust : Its trustee-manager has entered into a forward purchase agreement to acquire a one million square foot IT park in Bangalore, India for 12.3 billion rupees (S$201 million), the property trust announced on Wednesday. The trust will fund and develop the project using their internal resources and debt from the first half year of 2024. Units of the trust closed at S$1.16 on Wednesday, down S$0.01 or 0.9 per cent, before the announcement.