Stocks to watch: SingPost, Nio, Creative

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

Singapore Post (SingPost) : The postal service provider is introducing a significant rate increment for the first time in almost a decade. From Oct 9, standard regular mail rates will be increased by S$0.20 or 65 per cent to S$0.51 from the current S$0.31, it announced on Tuesday. SingPost shares ended Monday S$0.005 or 1 per cent lower at S$0.485.

Nio : The Chinese electric vehicle maker is proposing to issue US$500 million of convertible senior notes due 2029, with another US$500 million note offering due 2030. On Tuesday, the group said it plans to use a portion of net proceeds to repurchase existing debt securities, with the remainder going towards strengthening its balance sheet position as well as for general corporate purposes. The counter fell 3.1 per cent or US$0.33 to US$10.37 on Monday.