You are here
Stocks to watch: Cosco Shipping International (S), Cogent, HC Surgical, Weiye
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Cosco Shipping International (S), Cogent Holdings: The S$1.02-a-share cash offer of Chinese shipping company Cosco Shipping International (Singapore) for Cogent Holdings has become unconditional with the offeror having received valid acceptances representing about 92.05 per cent of the total number of shares. As at 5pm on Jan 2, 2018, Cosco has received valid acceptances representing 92.05 per cent of the total number of Cogent shares. With the offer turned unconditional, Cosco will exercise its compulsory acquisition right and proceed to delist Cogent Holdings from the Singapore Exchange. The offer will close on Jan 19 at 5.30pm.
HC Surgical: Medical services group HC Surgical Specialists (HCSS) will be buying a 51 per cent stake in HMC Medical Pte Ltd for S$673,000 in cash, as part of its plans to increase its reach and market share in Singapore. HCSS said that HMC operates a clinic at Upper Thomson Road, where the HCSS group has no presence. "The board is of the view that the proposed acquisition is in line with the group's plan for growth, and will expand the group's presence in Singapore," its announcement said.
Weiye Holdings: Weiye Holdings has entered into an agreement through a wholly owned subsidiary to pick up 40 per cent in equity in a property developer, Huzhou Ganghong Zhiye Co, Ltd (HGZY), for eight million yuan (S$1.64 million). The deal also calls on Hongji Weiye to extend an interest-free shareholder loan of 114.8 million yuan to HGZY. The loan, which has no fixed term of repayment, will fund the payment for the land-use rights to the local land authority.