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Stocks to watch: Mapletree Industrial, FCT, Ezion, Aspial
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Mapletree Industrial Trust: The real estate investment trust (Reit) has priced an upsized S$155.7 million placement of units at S$1.90 apiece to cover the rich end of price talk. The Reit had planned to issue at least S$125 million of units between S$1.83 and S$1.90 per unit, with an over-allotment option of at least S$25 million. Bookrunner and underwriter DBS Bank received interest that was 3.3 times the shares available.
Frasers Centrepoint Trust (FCT): The Reit posted on Wednesday a 5.5 per cent rise in its distribution per unit (DPU) for the fourth quarter, as higher rental income and improved occupancy at Northpoint City contributed to growth. For the three months ended Sept 30, 2017, DPU stood at 2.97 Singapore cents, up from 2.815 cents the year before. Full-year DPU was 11.9 cents, up from 11.764 cents a year ago, making it the highest DPU achieved since FCT's listing in 2006.
Ezion Holdings: Ezion is cautiously optimistic about getting noteholders approval for its refinancing plans as it points to recovery in its core liftboat business, said its financial adviser. Having held some initial meetings with different groups of noteholders which resulted in a revised version of the proposed refinancing, the company is "cautiously optimistic", said Chio Kian Huat, RSM Corporate Advisory senior partner, adding the group was "viable". RSM is advising on the proposal.
Aspial Corporation: Aspial announced after trading hours on Tuesday that it intends to cancel S$6.5 million worth of 5.05 per cent notes due 2019 that it has repurchased in the open market. Following the cancellation of the repurchased notes, the aggregate outstanding principal amount of the notes is expected to be S$123.5 million.