Companies & Markets

Stocks to watch: Nanofilm, Kep Infra Trust, Neo Group, Olam, Econ Healthcare

Published Tue, Apr 20, 2021 · 09:00 AM

THE following companies saw new developments that may affect trading of their securities on Tuesday:

Nanofilm Technologies International: The mainboard-listed tech manufacturer has entered into a non-binding term sheet for a joint venture with Temasek to tap opportunities in the hydrogen energy economy. Nanofilm is expected to hold a majority stake in Sydrogen with board control, but the term sheet is not legally binding and subject to further negotiations between the parties. Shares of Nanofilm closed at S$5.20 on Monday before the announcement, up S$0.03 or 0.6 per cent.

Keppel Infrastructure Trust (KIT): The trust saw a 15.6 per cent increase in operational cash flow in the first quarter, buoyed by strong year-on-year performance of infrastructure asset Ixom, as well as the trust's acquisition of Philippine Coastal Storage & Pipeline Corporation. KIT units closed at S$0.54 on Monday before the announcement, down S$0.01 or 1.8 per cent.

Neo Group: The offer for the Catalist-listed food caterer has turned unconditional, after the offeror received valid acceptances amounting to 91.2 per cent of all shares. The closing date of the offer has been extended to 5.30pm on May 25, 2021. Shares of Neo Group closed flat at 60.5 Singapore cents on Monday, before the announcement. The SGX-ST will suspend trading of the shares only at the close of the offer.

Olam International: The agrifood giant plans to issue S$100 million of its 5.375 per cent perpetual securities on April 26. The new perps will be consolidated with the group's existing S$250 million perps issued on Jan 18. Together, these issuances will form a single series. Olam shares closed flat at S$1.73 on Monday, before the announcement.

Econ Healthcare: The private nursing home operator on Monday closed 3.6 per cent higher than its initial public offering price of S$0.28 upon relisting on the Catalist board of the Singapore Exchange. The counter ended the day at S$0.29, with some 16.6 million shares changing hands throughout the course of the day.