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.
Keppel DC Real Estate Investment Trust (Keppel DC Reit) : The Reit announced on Monday the opening of its preferential offering of 148.4 million new units on the basis of 86 preferential offering new units for every 1,000 existing units in the Reit. The offering will have an issue price of S$2.03 per unit and will close on Dec 10. Units of Keppel DC Reit closed flat at S$2.22 last Friday, before the news.
Boustead Singapore : A Boustead Singapore-led joint venture is expected to put Como Orchard, a freehold hotel and retail building, on the market with an asking price of about S$680 million. Located at 28 and 30 Bideford Road, the 18-storey property is a redevelopment of the old Thong Sia Building. The property is owned by Bideford House, in which Boustead Singapore’s subsidiary Boustead Projects holds a 50 per cent stake. Shares of Boustead Singapore closed at S$0.995 last Friday, up S$0.005 or 0.5 per cent, before the announcement.
Trading halt: Dasin Retail Trust requested for a trading halt on Monday morning. Its units ended 6.45 per cent or S$0.002 higher at S$0.033 last Friday.
