Stocks to watch: FLCT, Manulife US Reit, SPH, Keppel

Wong Pei Ting

Published Wed, Dec 1, 2021 · 08:21 AM

THE following companies saw new developments that may affect trading of their securities on Wednesday (Dec 1):

Frasers Logistics & Commercial Trust (FLCT) BUOU: The real estate investment trust (Reit) has acquired a property to be developed at Worcester Six, a new business park in the UK, for an all-in maximum consideration of £28.3 million (S$51.5 million). The manager said on Tuesday (Nov 30) FLCT will fund the development of the new facility. Units of FLCT closed 0.7 per cent or S$0.01 lower at S$1.47, before the announcement was made.

Manulife US Reit BTOU: The Reit has closed its private placement at the lowest end of the indicated issue price range, at US$0.649 per new unit. In a bourse filing on Tuesday, its manager said the placement was more than 2 times covered and that it expects gross proceeds of US$100 million upon issuing about 154.1 million new units. Units of Manulife US Reit ended at US$0.71 on Monday (Nov 29), down US$0.01 or 1.4 per cent. The Reit, which had called for a trading halt on Tuesday morning, resumes trading on Wednesday.

Singapore Press Holdings (SPH) T39, SPH Reit SK6U, Keppel Corporation BN4, Keppel Reit K71U: In response to questions fielded by the Securities Investors Association (Singapore), Keppel on Tuesday said its decision to waive its right to walk away from the offer is a deliberate decision to improve the attractiveness of its final offer for SPH.

Keppel further said it is able to close the transaction more expeditiously than Cuscaden Peak and provide the shortest time to pay-out by mid-January next year for SPH shareholders.

Before the reply was issued, SPH closed at S$2.33 on Tuesday, down 0.4 per cent or S$0.010, while SPH Reit fell 1.5 per cent or S$0.015 to S$1. Meanwhile, Keppel closed at S$5.10, down 2.1 per cent or S$0.11, while units of Keppel Reit traded flat at S$1.11.