Stocks to watch: CDL, Keppel, Singtel, Hongkong Land, CapitaLand, First Reit

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

C09: Chongqing Sincere Yuanchang Industrial Co, of which the property giant owns a 51 per cent stake, may undergo a court-led restructuring after a bankruptcy application was filed against it. The application was filed to the No 5 Intermediate People's Court in Chongqing according to a July 5 filing, and could trigger either restructuring or liquidation, or a settlement between creditors and the company if accepted. Shares of CDL closed at S$7.01, down 2.4 per cent or S$0.17 on Wednesday.

BN4: The mainboard-listed conglomerate said on Thursday that it is divesting its data centre facility, Keppel DC Frankfurt 1, in Frankfurt, Germany for 76 million euros (S$121.6 million). The property was previously held under a 60:40 joint venture between Alpha DC Fund and Keppel Data Centres Holding. Shares of Keppel closed at S$5.27 on Wednesday, down S$0.15 or 2.8 per cent.

Z74: The telco's technology services arm, NCS, unveiled a new brand identity on Wednesday and has been recast as a pan-Asian business-to-business (B2B) digital services provider. Singtel first announced plans for a strategic reset on May 27, when it reported a 92.7 per cent decline in H2 net profit to S$87.6 million from S$1.2 billion for H2 FY2020. Shares of Singtel closed down 1.7 per cent or S$0.04 at S$2.26 after the announcement.

H78 (H78): The Jardines-backed property group said its inaugural 10-year US$500 million green bond offering was about three times subscribed. The US dollar-denominated senior unsecured notes, which will mature on July 15, 2031, carry a coupon of 2.25 per cent per annum and a re-offer yield of 2.314 per cent. Shares of Hongkong Land closed flat at US$4.75 after the announcement.

C31: The property giant announced on Wednesday that it had launched a second logistics private fund in India worth S$400 million for expansion in the country's logistics sector. The CapitaLand India Logistics Fund II will invest in the development of key warehousing and manufacturing hubs in six major cities including Ahmedabad, Bangalore, Chennai, Mumbai, the National Capital Region and Pune, and in emerging markets such as Coimbatore, Guwahati, Jaipur, Kolkata and Lucknow. Shares of CapitaLand closed at S$3.74 on Wednesday, down 0.8 per cent, after the announcement.

AW9U: The healthcare real estate investment trust (Reit) will not redeem its S$60 million, 5.68 per cent perpetual securities on its first call date on July 8, its manager announced in a late night regulatory filing on Wednesday. It also announced the reset distribution rate of 4.9817 per cent per annum for the period from the first reset date on July 8 to the next one five years later. This comes from the prevailing five-year swap offer rate of 1.0567 per cent per annum plus the initial spread of 3.925 per cent. Units of the Reit closed at 27 Singapore cents, up 0.5 cent or 1.9 per cent on Wednesday.