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Stocks to watch: Addvalue Technologies, Parkson Retail Asia, AusNet Services
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Addvalue Technologies: Addvalue is raising up to S$10 million through a stock placement of 250 million shares at four Singapore cents apiece, the satellite communications company announced on Monday. The issue price represents a 0.5 per cent discount to Addvalue's volume-weighted average trading price of 4.02 Singapore cents on Monday. The stock last traded at 4.1 Singapore cents on Monday.
Parkson Retail Asia: Department store operator Parkson Retail Asia posted a third-quarter net loss of S$7.8 million, narrowing its net loss by 14 per cent from S$9.1 million a year ago. This translated to a loss per share of 1.16 Singapore cents, versus a loss of 1.35 Singapore cents last year. No dividend was declared for the current financial period, unchanged from the preceding year. The counter last traded 1.8 per cent, or 0.1 Singapore cent lower to 5.4 Singapore cents apiece on Monday, before its Q3 results were announced on Tuesday.
AusNet Services: Australian energy company AusNet Services will be delisting from the Singapore Exchange (SGX) after 13 years. AusNet Services has had its primary listing on the Australian Securities Exchange (ASX), with a secondary listing on the SGX mainboard since Dec 14, 2005. AusNet Services will continue to maintain its primary listing on the ASX. AusNet Services is about 31.1 per cent owned by Singapore Power and 19.9 per cent by State Grid Corporation of China; the other 49 per cent is publicly owned. The counter last traded unchanged at S$1.71 apiece on Monday.