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Stocks to watch: OCBC, Frasers Property, Fu Yu, Singapore eDevelopment
THE following companies saw new developments that may affect trading of their securities on Thursday:
OCBC Bank: The lender has priced A$150 million (S$139.5 million) of senior floating-rate notes due 2022 under its US$30 billion global medium term note programme. OCBC also appointed former HSBC Greater China chief Helen Wong as deputy president and head of global wholesale banking. The counter closed up S$0.01 or 0.1 per cent to S$11.01 on Wednesday, before both announcements were made.
Frasers Property: The property developer, through its wholly-owned subsidiary, has bought additional shares in JustCo Holdings for US$12.4 million. The move raises its stake in the co-working space operator to 22.2 per cent, it said on Wednesday. The counter closed at S$1.71 on Wednesday, down one Singapore cent or 0.6 per cent on a cum-dividend basis before the announcement.
Fu Yu Corporation: The precision plastic components maker is undertaking a S$15.4 million redevelopment project to expand and improve its operations in Singapore, it said on Wednesday. Fu Yu shares closed at S$0.245 on Wednesday, down 3.9 per cent, or one Singapore cent before the announcement.
Singapore eDevelopment (SeD): Two subsidiaries of the Catalist-listed firm have commenced legal proceedings against a vendor - which has also begun legal proceedings against them - in the San Diego County Superior Court in California. SeD shares closed down 0.3 Singapore cent or 6.98 per cent to S$0.04 on Wednesday before the announcement.