Stocks to watch: SingPost, Nio, Keppel DC Reit, Boustead

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

Singapore Post (SingPost) : The national postal service provider has officially proposed to sell its Australian business at an agreed enterprise value of A$1 billion (S$870 million). Some proceeds from the deal will be used to repay borrowings, such as its Australian dollar-denominated debt, as well as the possible issuance of a special dividend in the future, said SingPost on Monday. Shares of SingPost ended last Friday flat at S$0.58.

Nio : The Chinese electric vehicle maker delivered 20,575 vehicles in November this year, up 28.9 per cent from the same month last year. As at Nov 30, its cumulative deliveries stood at 640,426, the company said in a business update on Sunday, adding that it recently celebrated its 10th anniversary on Nov 25. Shares of Nio rose 0.5 per cent, or US$0.02, to close at US$4.46 last Friday, ahead of the announcement.