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Stocks to watch: HMI, BreadTalk, Leadlease Global Reit, Y Ventures

THE following companies saw new developments that may affect trading of their securities on Thursday:

Health Management International (HMI): The mainboard-listed regional healthcare provider announced on Thursday morning that it will hold its scheme meeting on Oct 18 at 3pm for shareholders to vote on its privatisation deal. Led by HMI’s management and private equity firm EQT Mid Market Asia III GP, the potential deal is being done through a scheme of arrangement that values HMI at S$611 million. Shares of HMI were flat at 72.5 Singapore cents on Wednesday.

BreadTalk: The company’s founder and chairman George Quek is looking to a Singapore-Taiwan free trade pact to resolve issues encountered in his recent personal acquisition of Taiwan’s Pacific Sogo Department Stores. Mr Quek and a business partner had inked a deal with Taiwanese businessman Lee Heng-lung to acquire the bulk of Mr Lee’s claimed 60 per cent stake in a holding company whose main asset is Pacific Sogo Department Stores. Shares of BreadTalk closed flat at 62.5 Singapore cents on Wednesday.

Lendlease Global Commercial Reit: The real estate investment trust on Wednesday ended its trading debut on the mainboard at S$0.92, up 4.5 per cent from its initial public offering (IPO) price of S$0.88. About 74.6 million units changed hands since the opening gong at 2pm, making it one of the most heavily traded securities on the Singapore bourse. It hit an intra-day high of S$0.945, up 7.4 per cent from the IPO price, and reached a low of S$0.915 during the session.

Y Ventures Group: The Catalist-listed e-commerce firm on Thursday morning said it has appointed Evolve Capital Asia as a financial adviser to conduct a strategic review of the group. The review will include Y Ventures’ investments, mergers and acquisitions as well as joint ventures. Y Ventures shares ended trading on Wednesday at 11.3 Singapore cents, up 0.3 cent or 2.7 per cent.

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