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Stocks to watch: LCD Global, SIA, Popular
THE following stocks had announcements that could affect trading activity on Thursday.
LCD Global Investments resumes trading on Thursday, after its directors said they will cancel an earlier proposal for a rights issue of convertible bonds. The rights issue turned unfavourable to shareholders following a cash offer from Aspial Corp and Fragrance Group. AF Global - a joint venture firm of Aspial and Fragrance - has announced its voluntary conditional cash offer; it will make its general offer for LCD Global at 33 cents a share.
Singapore Airlines (SIA) said it will stop offering re-employment to captains when they turn 62, amid tough operating conditions and a surplus of pilots in recent years.
In addition, Scoot and Tiger Airways on Wednesday said they will deepen cooperation further. Beyond coordination on promotions, distribution and network, the airlines are also exploring other opportunities for greater cooperation, including common ground handling, procurement and service centres. Both budget carriers were granted anti-trust immunity by the Competition Commission of Singapore in August last year.
Popular Holdings' CEO and executive director Chou Cheng Ngok is attempting to take the company private with a voluntary conditional cash offer from Grand Apex Holdings - jointly owned by Mr Chou and his wife, Hu Nan Lee. The offer price for each offer share is S$0.32 in cash, a 39.1 per cent premium over Popular Holdings' last traded price of S$0.23 on Tuesday, and a 37.3 per cent premium over the volume weighted average price for the three-month period to Tuesday.