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Stocks to watch: Cosco Shipping, Cogent Holdings, Ezion, MindChamps
THE following stocks made announcements that may affect their trading on Friday when the market opens.
Cosco Shipping International, Cogent Holdings: Cosco Shipping on Friday issued formal offer documents for its S$1.02 per share bid to privatise Cogent. Cosco said that acceptances of the offer must be received no later than 5.30pm on Jan 5. Cosco Shipping had announced on Nov 3 that it is acquiring and privatising Cogent for S$488.07 million.
Ezion Holdings: The offshore and marine group, which had asked creditors for support to push back debt deadlines, said on Friday that an originating summons taken out by a substantial bond holder has been dismissed by Singapore's High Court. Bond holder Ravi Murarka who owns a substantial share of the liftboat operator's tranche of S$120 million bonds backed by DBS Bank, served Ezion a redemption notice in September, citing the bond clause that he can demand to be paid back in full "in the event that the shares of the issuer cease to be listed or traded". Mr Murarka's case was the first time that any bond holder had filed a summons against a Singapore issuer to protect his rights as a bond holder.
MindChamps PreSchool: The early education company makes its debut on the Mainboard on Friday morning. Its initial public offering at 83 Singapore cents per share was subscribed 21.4 times.