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Stocks to watch: SembMarine, UOB, Hyflux
THE following listed companies made material announcements before the Singapore market opened on Thursday:
Sembcorp Marine (SembMarine): The marine and offshore engineering group has raised its stake in Norway-based Gravifloat AS by another 44 per cent for US$38 million, bringing its stake in the firm to a controlling interest of 56 per cent in order to expand into offshore gas processing units.
United Overseas Bank (UOB): The bank has priced the issue of US$500 million subordinated notes due 2026 and callable in 2021 under its S$15 billion euro medium term note programme. The notes, priced at 99.574 per cent of their principal amount, bear an interest rate of 3.5 per cent per annum payable in arrears semi-annually, UOB said in an SGX announcement.
Hyflux: Shares of the water treatment company surged as much as 12 per cent on Wednesday following news that it has won a letter of intent for an integrated water and power project in Egypt.