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Stocks to watch: LionGold, Foreland Fabrictech, SingPost, Noble, CapitaLand, M1
THE following stocks had announcements or developments that could affect their trading activity on Monday.
LionGold Corp: Over the weekend, it announced a restructuring of US$17 million of existing convertible bonds that were due last month. It also proposed a new issue of up to S$100 million principal amount of 2.5 per cent redeemable convertible bonds due 2018.
Foreland Fabrictech: Its executive chairman, Tsoi Kin Chit, has slashed his direct stake in the company to just 11.03 per cent, after selling a 29.5 per cent share for S$1 million in an off-market transaction. This works out to 0.62 of a Singapore cent per share. Also on June 18, Huang Wen - who, prior to the transaction, did not hold any interest in the company - acquired a deemed interest of 29.5 per cent in the Fujian-based company at the same price.
Singapore Post: It has sold a 90 per cent stake in DataPost to Jing King Tech Solutions for about S$39.3 million. This follows another divestment last month of its whole stake in Novation Solutions and DataPost (HK) for S$24.4 million.
Noble Group: It has closed the disposal of its wholly owned Mongolian coal subsidiary Enkhtunkh Orchlon LLC (EO) to Australian-listed Guildford Coal, for an aggregate consideration of up to US$65 million, following the exercise of an option on Dec 24 last year.
CapitaLand: CMA Japan Trust plans to acquire Vivit Minami Funabashi - a shopping mall in Greater Tokyo - for 3.05 billion yen (S$33.2 million). Vivit is part of the portfolio of assets held by CapitaMalls Japan Fund, which is managed by a wholly owned subsidiary of CapitaLand and in which CapitaLand has an interest of 26.3 per cent.
M1: The telco has launched a mobile Point of Sale (mPOS) solution which transforms smartphones and tablets into terminals, so merchants can accept credit, debit and prepaid card payments. This is a collaboration with CIMB, MasterCard and Wirecard.