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Stocks to watch: Keppel Corp, Keppel Land, Tiger Airways, WE Holdings, SGX
THE following companies made announcements that may affect the trading of their shares on Monday.
Keppel Corporation and Keppel Land (KepLand) will resume trading of their shares on Monday morning, after the group announced a trading halt last Wednesday.
Keppel Corp, which owns 54.6 per cent of KepLand, last Friday launched an offer to take KepLand private.
Tiger Airways on Monday announced a net profit of S$2.19 million for its third quarter ended Dec 31, 2014 (Q3 FY2015), reversing a net loss of S$118.5 million a year ago. Revenue for Q3 FY2015 came up to S$182.26 million, up by some 6 per cent from last year's S$172.13 million. This was achieved on the back of stronger yield, higher load factor and lower capacity, said the company in a statement.
WE Holdings on Monday said it is proposing a renounceable non-underwritten rights issue of up to 4.2 billion warrants at an issue price of S$0.001 per warrant, which could raise up to S$16.7 million to enlarge its working capital and capital base.
Separately, it has acquired Maritrans Recycler, an integrated environmental service provider incorporated in the Philippines, for a purchase consideration of no less than US$2 million, subject to the net tangible assets of Maritrans Recycler as at March 31, 2015.
Singapore Exchange (SGX) on Monday said it is partnering venture capital and incubation firm Clearbridge Accelerator to develop an equity crowdfunding platform for entrepreneurs and SMEs to raise capital.
The platform will be a new channel for growth-stage firms in Asia to raise Series A and B money - a funding crunch SGX said is real and immediate - and for traditional investors to explore fresh business ideas and investment options.