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Stocks to watch: CCFH, Sino Construction, IPC, KepCorp, A-Reit
THE following stocks had announcements or developments that could affect trading activity on Tuesday.
CCFH: The company intends to diversify into fund management, helicopter leasing, and solar plants in the Caribbean islands. The Catalist-listed group owns bedlinen brand Friven.
Sino Construction: Its share price rose 20.7 per cent to 3.5 Singapore cents on Monday, after the company said it would raise S$6.5 million through the placement of 262 million new shares.
IPC Corporation: The company is in negotiations to sell its remaining seven hotels in Japan. The proposed sale price for the properties is in the region of S$150 million subject to agreement between the parties.
Keppel Corp: Its shareholding in Keppel Land had inched up 0.5 percentage point to 93.9 per cent by 5pm on Monday. This is still 1.6 percentage points short of the 95.5 per cent compulsory acquisition threshold for the higher offer price of S$4.60 per share to kick in. The final closing deadline of the offer is 5.30pm on March 31.
Ascendas Real Estate Investment Trust (A-Reit): It has completed the acquisition of The Kendall at 50 Science Park Road for a purchase consideration of S$112 million from Singapore Science Park Ltd, a wholly owned subsidiary of Ascendas Group, the sponsor of A-Reit.