You are here
Stocks to watch: Keppel DC Reit, Keppel Infrastructure Trust, Hupsteel, Tee International
THE following companies saw new developments that may affect trading of their shares on Monday:
Keppel DC Reit, Keppel Infrastructure Trust: The managers of Keppel DC Reit requested a trading halt on Monday morning before the market opened, on the back of news that the Reit is raising some S$473.8 million, mainly to fund the acquisition of two data centres, 1-Net North Data Centre, and Keppel DC Singapore 4. Units in Keppel DC Reit closed at S$1.80 on Friday, up 2.3 per cent, or four Singapore cents, while units in Keppel Infrastructure Trust last traded at 52 cents.
Hupsteel: Steel trader Hupsteel on Monday morning requested for a trading suspension with immediate effect, as the founding Lim family has received enough valid acceptances of its offer to delist the group, and the company's public float fell below the minimum 10 per cent threshold. The founding Lim family had launched a voluntary conditional cash offer of S$1.20 per share on July 19. The counter last traded flat at S$1.19 on Sept 6. At the close of the offer at 5.30pm on Sept 13, the total number of shares owned or agreed to be acquired by the offeror and concert parties, as well as the valid acceptances of the offer, amounted to 95.5 per cent of shares in the company. The offeror, Hercules Pte Ltd, a bid vehicle for the consortium members, does not intend to restore the float. The offeror will acquire, at the offer price, the remaining shares from shareholders who did not accept the offer, as it is entitled to under the Companies Act.
Tee International: Mainboard-listed engineering group Tee International announced late last Friday that its board has been informed by the company's controlling shareholder, Phua Chian Kin, that he has received offers for the shares in the company held by him. Mr Phua, who has been in the spotlight for allegedly instructing unauthorised transactions totalling S$6.55 million made by Tee International subsidiaries to related parties, also updated the company on the same night of his shareholdings in the company, which stands at a direct interest of 39.24 per cent and a deemed interest of 6.37 per cent. Trading in Tee International's shares has been halted, with the counter last trading at 3.5 Singapore cents on Sept 12, up 12.9 per cent, or 0.4 cent.