Companies & Markets

Stocks to watch: LHN, Livingstone Health, Frasers Hospitality Trust, Yongnam

Published Wed, Apr 14, 2021 · 08:51 AM

THE following companies saw new developments that may affect trading of their securities on Wednesday.

LHN Group: The real estate management firm inked binding sale-and-purchase agreements to acquire eight flats on Beach Road for a total of S$16.8 million on Monday. All located at 75 Beach Road, half of the units have an area of 128 square metres (sq m), while the other four are 125 sq m. These purchases were made through LHN's indirect wholly-owned subsidiaries HQ and Coliwoo. They each paid a S$420,000 deposit for their respective S$8.4 million purchases. The remaining amounts will be paid by the group's internal funds and bank borrowings. LHN shares ended the day at 19.4 Singapore cents, up 1.6 per cent or 0.3 cent, after the announcement.

Livingstone Health: In a regulatory update on Tuesday, the medical group said that it is mapping out expansion plans to boost its offerings. This includes increasing its range of services, number of clinics and medical practitioners. This comes after the group completed a reverse takeover two months ago. Shares of Livingstone Health ended Tuesday at 22 Singapore cents, up 3.8 cents or 20.9 per cent after the announcement.

Frasers Hospitality Trust (FHT): The decision by Frasers Hospitality Trust (FHT) to redeem its S$100 million, 4.45 per cent perpetual securities may lead to an uptick in distributions if the managers repay the perps with debt, DBS Group Research said. The research team projected an estimated accretion of about 1 per cent to its FY2021 distributed forecast. Units of FHT closed at 55 Singapore cents on Tuesday, down 0.9 per cent or 0.5 cent, after the announcement.

Yongnam Holdings: The steel fabricator on Tuesday proposed to place up to 104.5 million new shares at an issue price of 7.6 Singapore cents per share to raise up to S$7.9 million.

In an exchange filing, it said that the placement price represents a discount of around 9.9 per cent to the volume-weighted average price for trades done on Monday, the full market day before the placement agreement was signed. After deducting expenses and fees, the estimated net proceeds from the proposed placement will be about S$7.5 million, which Yongnam is proposing to use for general working capital. Yongnam shares closed at 8.3 Singapore cents on Monday, before a trading halt was called.