Stocks to watch: UOB, Qian Hu

THE following companies saw new developments that may affect trading of their securities on Friday (Oct 4):

UOB : The bank’s Sydney branch is set to issue A$100 million (S$88.8 million) in floating-rate senior unsecured notes, which are expected to be rated Aa1 or AA- by major ratings agencies. The coupon rate is the Australian benchmark three-month Bank Bill Swap rate plus 0.59 per cent per annum payable quarterly in arrear; the notes mature on Oct 27, 2025. UOB shares closed 0.6 per cent or S$0.20 lower at S$31.71 on Thursday, before the announcement.

Qian Hu : Its executive chairman Kenny Yap will be retiring from the directorial role at the end of the year, and will be succeeded by chief executive Yap Kok Cheng, his nephew. Shares of the mainboard-listed fish vendor closed 0.7 per cent or S$0.001 lower at S$0.139 on Thursday, before the announcement.