Stocks to watch: CDL, Ascendas Reit, KTL Global, MDR

THE following companies saw new developments that may affect trading of their securities on Friday:

C09: The property group on Friday confirmed reports that it has applied for an initial public offering (IPO) of a real estate investment trust (Reit). "No decision has been made as to whether the transaction will take place and there is currently no certainty that the company will proceed with the offering," CDL added. The IPO could raise some £500 million (S$940 million), Bloomberg reported. CDL shares closed S$0.12 or 1.6 per cent higher at S$7.83 on Thursday.

A17U: The Reit will divest three logistics properties in Australia for a total of A$125.1 million (S$128.7 million). Units of Ascendas Reit closed S$0.01 or 0.3 per cent higher at S$2.92 on Thursday.

EB7: The branding, operations and procurement company has proposed to acquire a fresh produce distribution business for S$200,000. Shares of KTL Global closed down 0.1 Singapore cent or 1.5 per cent at 6.6 cents on Thursday.

Y3D: The after-market service provider for consumer mobile products on Thursday said one of its units will enter the mobile virtual network operator business in early July. Shares of MDR closed flat at 7.7 Singapore cents on Thursday.