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Stocks to watch: Cromwell E-Reit, Ascott Reit, Alliance Healthcare, Rex, KS Energy
THE following companies saw new developments that may affect trading of their securities on Friday:
Cromwell European Real Estate Investment Trust (Cromwell E-Reit): The Reit's manager on Friday said the Reit has entered into a purchase agreement and lease agreements with units of Felss Group GmbH to acquire three light industrial/logistics assets in Germany for 38 million euros (S$57 million). The counter closed at 0.525 euro on Thursday, up 0.5 euro cent or 1 per cent before the announcement.
Citic Envirotech: The group's majority owner, which is making a bid to take the water treatment company private, said on Thursday that it does not intend to increase the offer price of S$0.55 a share. Under listing rules, the offeror can now no longer amend the exit offer terms. The counter ended flat at S$5.40 on Thursday before the announcement.
Moya Holdings: The Catalist-listed firm on Thursday said it is currently under negotiation for a potential acquisition of a company in a similar business with no assurance that any deal would materialise. Moya also noted the substantial increase in its trading and share price on Thursday, which saw its counter rise 13.4 per cent or 0.9 Singapore cent to reach an intraday high of 7.6 Singapore cents at around 9.26am and again at 10.12am. It then eased to 7.4 cents as at 11.13am, just before it called for a trading halt.
TEE International: Controlling shareholder Phua Chian Kin's deal to sell a chunk of his shares has been pushed back again, with the sale completion date - originally set for Oct 31 - now delayed to Dec 31 "as requested by the buyer", according to a filing on Thursday. TEE International shares ended flat at S$0.057 before the announcement.
Alliance Healthcare Group: The Catalist-listed group on Thursday announced plans to take a majority 55 per cent stake in a loss-making digital healthcare platform startup called Jaga-Me for about S$3.5 million in cash, in a deal that raised the bourse operator's eyebrows. Alliance Healthcare shares last traded on Dec 6 at S$0.14.
Rex International: The group's indirect unit Masirah Oil Ltd (MOL) is proposing to issue US$4.5 million of preference shares priced at US$477.70 apiece to Trace Atlantic Oil to fund its drilling activities and operations in Oman. Rex indirectly holds a 92.65 per cent stake in MOL that will be reduced to 87.4 per cent following the Trace Atlantic deal. Rex shares closed unchanged at S$0.186 on Thursday before the announcement.
Ascott Residence Trust (Ascott Reit): Unitholders of merging real estate investment trusts Ascott Reit and Ascendas Hospitality Trust will get their new Ascott Reit-BT stapled units on Dec 31. Unstapled Ascott Reit units will trade for the last time on Dec 26, while Ascott Reit-BT stapled units are set to start trading on Jan 2, the manager said on Thursday. Ascott Reit units shed S$0.02 or 1.5 per cent to S$1.33 on Thursday on a cum-dividend, cum-entitlement basis before the announcement.
KS Energy: The mainboard-listed oilfield supply and services provider has won another contract extension worth about US$6.1 million for its KS Java Star 2 jack-up drilling rig in Vietnam. KS Energy, which saw a net loss of S$66.3 million for the nine months to Sept 30, lost 0.4 Singapore cent or 21.1 per cent to S$0.015 before the announcement.
Metal Component Engineering (MCE): Plans by the Catalist-listed metal stamping company to sell a dormant Chinese subsidiary will not need shareholder approval, after the company got a waiver from the bourse operator, according to a regulatory filing on Thursday. MCE shares closed at 2.9 Singapore cents on Thursday, up 0.1 Singapore cent or 3.57 per cent before the announcement.