Stocks to watch: CapitaLand Investment, IReit Global

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jun 22):

CapitaLand Investment (CLI): The property player on Wednesday said it has established its first onshore renminbi fund in China, where it holds a 12 per cent stake in the 700 million yuan (S$144 million) fund, in partnership with a domestic asset management company. Shares of CLI closed at S$3.81 on Tuesday, down S$0.01 or 0.3 per cent.

IReit Global : The real estate investment trust announced in a Tuesday press release that it has secured a 12-year lease for about 5,300 square metres of vacant data centre space at its Sant Cugat Green building in Barcelona, Spain, representing around 20.4 per cent of the property’s total lettable area. The new lease will push up Sant Cugat Green’s occupancy rate to 97.2 per cent on a pro-forma basis, from 77.1 per cent as at end-March. Units of IReit Global ended S$0.01 or 1.6 per cent higher at S$0.62 on Tuesday, before the announcement.