Stocks to watch: Mooreast, Mapletree Logistics Trust, Keppel, HPL, SPH, SPH Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday (Nov 24):

Mooreast: 1V3 The mooring solutions provider's shares for its initial public offering were subscribed by 1.3 times, the company said in a bourse filing on Tuesday (Nov 23). Its shares will start trading on the Catalist board on Wednesday.

Mapletree Logistics Trust (MLT): M44U : M44U 0% The trust on Wednesday announced its private placement at S$1.88 per new unit while its preferential offering is at S$1.84, both slightly higher than the bottom end of the price range. The total gross proceeds of the fundraising will be some S$692.8 million, which will go towards helping MLT fund the acquisitions of 17 logistics assets in China, Vietnam and Japan. MLT, which called for a trading halt on Tuesday morning, resumes trading on Wednesday. The counter last traded 0.5 per cent or S$0.01 lower at S$1.95 on Monday (Nov 22).

Keppel Corporation, Hotel Properties Limited (HPL), Singapore Press Holdings (SPH), SPH Reit: BN4  H15  T39  SK6U  The Securities Investors Association (Singapore) (Sias) posed questions to Cuscaden Peak, a group backed by HPL, property magnate Ong Beng Seng and 2 Temasek-linked units CLA and Mapletree, as well as Keppel Corporation, on their competing offers for SPH.

Among other things, Sias asked Cuscaden Peak to spell out its long-term plans for SPH Reit, should its bid succeed, while it asked Keppel why it was making it urgent for SPH shareholders to cast their votes. Keppel shed S$0.05 or 1 per cent to close at S$5.34 on Tuesday, HPL closed flat at S$3.35, while SPH also ended flat at S$2.34. Meanwhile, SPH Reit rose S$0.01 or 1 per cent to close at S$1.01.