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Stocks to watch: AA Reit, Asian Micro Holdings, UOL, RE&S
THE following stocks made announcements that may affect their trading on Wednesday when the market opens.
AA Reit: AIMS AMP Capital Industrial Reit (AA Reit) has launched a private placement exercise to raise gross proceeds of at least S$50 million. AA Reit will issue between 37.175 million and 38.314 million new units at an issue price of between S$1.305 and S$1.345 per per unit. The proceeds will mainly be used to partially repay AA Reit's existing borrowings to create additional debt headroom for future potential acquisitions, asset enhancement initiatives (AEIs) and other development opportunities as well as for AEIs and balance payments of AA Reit's recent development projects.
Asian Micro Holdings: The Catalist-listed company is issuing about S$117,808 of shares for the right to buy four commercial units at Gurney Tower in Penang, Malaysia, for RM1.6 million (S$0.5 million). The counterparty, one Chew Choon Beng, has options to purchase three units at Gurney Tower and also rights to a fourth unit in the same building. In total, the consideration for the four units is RM1.6 million.
UOL Group: UOL Group Limited on Tuesday announced a mandatory unconditional cash offer for all the shares in Singapore Land (SingLand) that it does not already own at S$11.85 apiece in cash. The obligation for UOL to make a mandatory offer for Singapore Land, which United Industrial Corporation (UIC) now owns 99.683 per cent, was triggered under Singapore's takeover code after UOL's stake in UIC crossed 50 per cent. UOL has thereby attained statutory control of UIC. With statutory control of UIC, UOL has also attained effective control of SingLand.
RE&S: The Japanese multi-brand food and beverage (F&B) group has received strong interest from investors for its initial public offering (IPO) of 38 million shares at 22 Singapore cents apiece. The invitation for the public offer shares and the placement shares (excluding six million reserved shares) was 37.8 times subscribed, it said. Among institutional investors that have subscribed for the placement shares are Affin Hwang Asset Management Berhad, Lion Global Investors Ltd, Nikko AM Asia and Qilin Asset Management Pte Ltd, which have each been allotted 5 per cent of the invitation shares.