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Stocks to Watch: SingPost, Centurion, Global Yellow Pages
THE following stocks had announcements or developments that could affect trading activity on Thursday.
Singapore Post: Chinese e-commerce giant Alibaba will inject a further US$206.45 million into Singapore Post via a slew of initiatives. As part of this investment, Alibaba will raise its stake in SingPost to 14.51 per cent from 10.23 per cent, subject to approvals from the Infocomm Development Authority of Singapore (IDA) and SingPost's shareholders.
Centurion Corp: Bond investors on Wednesday gave a rather decent reception to Centurion Corp's three-year issue. The dormitory provider's S$65 million three-year bonds were priced at 5.25 per cent, lower than the initial 5.5 per cent area guidance as orders reached S$130 million.
Global Yellow Pages: A writ has been served on the company and its subsidiary, Singapore River Explorer, by Leisure Empire in Singapore's High Court. Leisure Empire is claiming S$150,000 in damages in lieu of written notice for the termination of a service agreement dated Dec 1, 2012, and S$50,000 a month in damages for the subsistence of the agreement. It is also seeking damages for loss of profits to be assessed.