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Stocks to watch: Addvalue, Frasers Logistics & Industrial Trust, mm2 Asia, SPH
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Addvalue Technologies: Addvalue said on Tuesday night it has entered into an agreement with an investor under which she plans to invest S$1.5 million via a subscription of 1.5 million of exchangeable bonds of S$1 each. The bonds will be issued by a wholly owned subsidiary, Addvalue Innovation (AVI), and in the event of a listing on the Catalist board of the Singapore Exchange by AVI's subsidiary Addvalue Solutions (AVS) or an acquisition of AVS, will be exchangeable into new shares in AVS. The counter closed at 3.3 Singapore cents apiece on Tuesday.
Frasers Logistics & Industrial Trust: The manager of FLT on Tuesday said that it has sold a property in Australia for A$90.5 million (S$90.5 million) through its trustee. The property on 80 Hartley Street, Smeaton Grange is located in New South Wales, Australia, and comprises a cross-dock, regional distribution facility with a high clearance warehouse, office accommodation of 2,033 square metres, among other things. The property was purpose-built for Coles Supermarkets Australia and will have a remaining lease term of about five years, upon extension of the existing lease. Units of FLT closed at S$1.05 on Tuesday, up one Singapore cent.
mm2 Asia, Singapore Press Holdings (SPH): mm2 and SPH, through its wholly owned subsidiary, SPH Invest, will jointly operate AsiaOne, introducing more lifestyle and entertainment content to the 23-year-old online news site, SPH said in a media release on Tuesday evening. mm2 and SPH Invest now hold 51 per cent and 49 per cent equity interest respectively in AsiaOne Online, the operating joint venture company. AsiaOne, since a relaunch in May 2017, now focuses on social news and trending topics that are being discussed in Singapore, Malaysia and the region. mm2 shares closed at S$0.44, while SPH shares closed at S$2.61 on Tuesday.