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Stocks to watch: Nan Fung, Noble Group
Nan Fung: One of Hong Kong's largest privately owned property developers, Nan Fung International Holdings, has raised its offer price for Forterra Trust to S$2.25 per unit from S$1.85.
The higher bid price for the Singapore mainboard-listed commercial real estate developer in China was announced on Monday morning, after Nan Fung acquired about 53.89 million units at S$2.25 apiece, bringing its stake to 51.76 per cent of the total number of issued units and 51.26 per cent of the maximum potential total units in Forterra.
Forterra Trust closed its counter on Monday at S$2.25, up 39 Singapore cents.
Noble Group: Mainboard-listed Noble Group has acquired San Juan Fuels, a Delaware limited-liability firm, for US$10 million, via two wholly owned subsidiaries.
Noble Americas Corp and Noble Americas Gas and Power Corp acquired 200 membership units in the issued unit capital of San Juan Fuels, LLC comprising its entire issued unit capital last Saturday, the firm said on Monday night. The purchase was entirely funded by the firm's internal cash resources.
The counter closed up S$0.025 at S$1.24 on Monday.