Stocks to watch: Seatrium, Food Empire, Frasers Property, Frasers Centrepoint Trust, Keppel

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Sep 24):

Seatrium : The offshore, marine and energy engineering solutions provider announced on Tuesday that it has divested its AmFELS shipyard in Brownsville, Texas, for a consideration of S$65 million. The asset sale is being executed through the group’s subsidiary, Seatrium AmFELS, which has entered into a binding agreement with a related party of Turkish builder Karpowership, Karpower Valley. The completion of the divestment is subject to customary closing conditions, including the transfer of the lease to the new owner by the Port of Brownsville. Shares of Seatrium closed 3.9 per cent or S$0.09 higher at S$2.43, before the announcement.

Food Empire : The company on Wednesday announced that it raised around S$42.8 million in gross proceeds through the placement of 17 million treasury shares at S$2.52 apiece. This brings its issued share capital, excluding treasury shares, from 529.8 million to 546.8 million shares. Food Empire said the placement enhances the trading liquidity of its shares and is expected to broaden its institutional investor base as well as position it to pursue growth opportunities. The counter finished on Tuesday 0.4 per cent or S$0.01 lower at S$2.66.