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Stocks to watch: NOL, Rowsley, SGX, mm2 Asia
THE following companies made corporate announcements before the beginning of trading on Tuesday:
Neptune Orient Lines (NOL) and France's CMA CGM threw a line in on the rare consolidation of a fragmented container shipping sector on Monday by unveiling a massive S$3.4 billion cash buyout, all in the name of scaling up.
Healthcare service provider Thomson Medical will partner lifestyle real estate and investment company Rowsley Ltd in developing the Vantage Bay Healthcare City project in Iskandar, southern Malaysia, valued at a gross amount of RM5 billion (S$1.65 billion).
The Singapore Exchange will reorganise its business to emphasise product lines from Jan 1 in a sweeping reorganisation that marks the first major move by new chief executive Loh Boon Chye, the market operator announced on Monday after the market closed.
mm2 Asia, a media content provider, said on Tuesday it plans to place out S$5 million in new shares to three investors. It would sell a total of 6.35 million shares at S$0.7872 apiece to three companies: Hesheng Media, Apex Capital Group, and Maxi-Harvest Group.