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Stocks to watch: Keppel Infrastructure Trust, Datapulse, USP Group, Oxley
THE following companies saw new developments that may affect trading of their shares on Friday:
Keppel Infrastructure Trust (KIT): KIT has upped the size of its latest equity fundraising to S$500.8 million from S$450 million, following strong demand from investors, it said on Friday. The funds will be raised via a placement of units, and a preferential offering. The placement consists of 680.3 million units at a price of S$0.441 apiece, raising gross proceeds of about S$300 million. The preferential offering has come down to 455.31 million preferential units priced at S$0.441 apiece, to raise about S$200.8 million. The bulk of the proceeds will go towards partially repaying a loan facility taken for the A$770 million (S$737.6 million) acquisition of Ixom HoldCo, a water treatment chemicals distributor. The counter closed flat at S$0.485 per unit on Thursday.
Datapulse Technology: Datapulse has posted a net loss of S$336,000 in the second quarter, reversing from a net profit of S$38.1 million in the same period a year earlier, in the absence of an exceptional gain on sale of a leasehold property. Revenue in the three months ended Jan 31 was S$459,000, up 145.5 per cent from the same period a year earlier. After Datapulse's sale of its Tai Seng leasehold property in the previous financial year (which resulted in an exceptional gain of S$44.6 million), all operations staff were retrenched, and the group entered into a sale and purchase agreement to dispose all of its remaining Blu-Ray replication lines equipment used in the media storage business on July 25, 2018. The counter last traded at 26 Singapore cents apiece on March 12.
USP Group: The single largest shareholder of watch-listed USP Group has parted with all her shares and resigned from the board to pursue other interests. Weng Huixin, a non-executive and non-independent director of USP, owned close to 20 million shares or 22.11 per cent of USP until she tendered her resignation on Tuesday. On the same day, she transferred a 14.18 per cent stake in the company or 12.8 million shares to Sunmax Global Capital Fund 1 as "full and final settlement of liabilities". Mdm Weng disposed of the rest of her shares for S$824,18 in off-market transactions at S$0.115 per share. USP shares last changed hands in the market at S$0.10 on March 11.
Oxley: Oxley has found a buyer for Chevron House, after owning the Grade-A office building in Raffles Place for about a year. The purchase consideration is S$1.025 billion, and the buyer is US-based real estate fund AEW, The Business Times understands. Oxley said on Thursday that it had accepted an expression of interest (EOI) to acquire Chevron House. The EOI is not legally binding and is subject to the conduct of due diligence. Trading in Oxley shares will resume on Friday. The shares added 3.13 per cent to S$0.33 on Wednesday before trading was halted.