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Stocks to watch: Ho Bee, Midas, SunVic
THE following stocks may see increased trading activity following various announcements.
Ho Bee Land:
Property developer Ho Bee Land said on Tuesday morning that it has bought two office buildings in Croydon in South London for £99 million (S$210 million).
Train aluminium body maker Midas Holdings has agreed to buy a China-based aluminium products maker by issuing new shares that represent up to 60.2 per cent of its current share capital.
Midas said it will issue up to 733.3 million new shares at 36 Singapore cents apiece, or up to S$264 million in total, to acquire all of Huicheng Capital, a Dalian-based company owned by Midas executive chairman Chen Wei Ping and six other individuals.
China chemical manufacturer SunVic Chemical Holdings has been reprimanded by the Singapore Exchange for breaching listing rules related to 1.6 billion yuan (S$354 million) of interested-person transactions over the three latest financial years.