Stocks to watch: Chip Eng Seng, Lendlease Reit, Cromwell E-Reit, CDW, Wing Tai

THE following companies saw new developments that may affect trading of their securities on Tuesday (Apr 5):

Chip Eng Seng: The property player on Tuesday said it is planning to acquire a 10.5 per cent stake in a property located at 8 Shenton Way for S$2.1 million. It noted that the property is intended to be redeveloped into a mixed-use commercial and residential development comprising office, retail, hotel and resident components, subject to regulatory approval. Shares of Chip Eng Seng closed on Monday up S$0.005 or 1.1 per cent at S$0.45.

Lendlease Global Commercial Reit (Lendlease Reit): Its perpetual securities priced at 5.25 per cent per annum were subscribed 5.3 times, with orders exceeding S$780 million. Net proceeds will be used to finance potential acquisition and investment opportunities, including the proposed acquisition of the remaining interests in Jem mall. Units of Lendlease Reit closed 2 per cent or S$0.015 higher at S$0.785, before the news on Monday.