Stocks to watch: Sabana Reit, Penguin, Olam, SBS Transit, Khong Guan

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

Sabana Shari'ah Compliant Industrial Reit (Sabana Reit): Two appointed independent non-executive directors of the manager of the Reit, Yeo Wee Kiong and Willy Shee, have tendered their resignation following "certain unitholders" refusal to endorse their appointments, the Reit's manager announced in regulatory filings on Wednesday night. Units of the Reit closed flat on Wednesday at 38.5 Singapore cents.

Penguin International: The offer to take mainboard-listed Penguin private has been extended to April 7, 5.30pm. As at 6pm on Wednesday, the offeror and its concert parties held an aggregate of 166.6 million shares, representing 75.68 per cent of the shares in the company, the company said in a regulatory filing. Penguin's shares closed flat at S$0.65 on Wednesday. (see amendment note)

Olam International: The food and agri-business group has priced US$100 million in five-year notes due 2026, via a private placement, the firm said on Wednesday night in a filing. The notes will be issued on March 31 at a fixed coupon of 3.25 per cent, payable semi-annually in arrears. Shares of Olam closed flat at S$1.66 on Wednesday.

SBS Transit: Lim Jit Poh will retire as chairman of the bus and rail operator after 18 years at its helm. Following the annual general meeting of the group, which will be held on April 29, Mr Lim will remain as senior adviser of SBS Transit. Shares of SBS Transit fell 0.3 per cent or S$0.01 to close at S$3.06 on Wednesday.

Khong Guan: SGProtein, a Singapore-based startup which manufactures plant-based meat, has raised S$4 million in a seed round led by biscuit maker Khong Guan. Shares of Khong Guan rose 1.3 per cent or S$0.02 to close at S$1.51 on Wednesday.

Amendment note: A previous version of this article stated that Penguin's offer had closed when it has in fact been extended to April 7.