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Stocks to watch: USP Group

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Chong Xin Wei

Published Tue, Apr 18, 2023 · 08:20 AM
    • Keppel Infrastructure Trust plans to raise at least S$240 million through an equity fundraising exercise.
    • Keppel Infrastructure Trust plans to raise at least S$240 million through an equity fundraising exercise. PHOTO: BT FILE

    THE following company saw new developments that may affect trading of its securities on Tuesday (Apr 18):

    USP Group : Minority shareholders of the watch-listed company are looking to wrest control of the company’s board and inject new projects into the entity, The Business Times reported on Tuesday. The resolutions include the removal of USP’s chief executive and non-executive chairman, as well as the appointment of four new directors – one of them an executive director. Shares of USP closed flat at S$0.103 on Monday.

    Trading halt: Keppel Infrastructure Trust (KIT) on Tuesday morning requested a trading halt, before it announced plans to raise gross proceeds of at least S$240 million through an equity fundraising exercise. This comprises a private placement of between S$0.464 and S$0.477 per unit, as well as a preferential offering of new units of between S$0.464 and S$0.467 per unit. KIT ended Monday flat at S$0.515.

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