Stocks to watch: Singtel, Keppel, Penguin International
THE following companies saw new developments that may affect trading of their securities on Thursday:
Singtel: Z74 : Z74 0% The telco on Thursday said it intends to exercise its full rights entitlement for its direct 14 per cent stake in regional associate Bharti Airtel, to buy into the latter's 21,000 crore rupees (S$3.8 billion) rights issue. At an issue price of 535 rupees per share, this translates to a total consideration of up to 29.4 billion rupees or US$405 million over a period of up to three years. Shares of Singtel ended Wednesday flat at S$2.47.
Keppel Corp: BN4 The conglomerate has priced eight billion yen (S$98.7 million) in notes due 2027 at 0.99 per cent per annum, it said on Wednesday evening. Net proceeds from the issue of the notes will be used for general corporate and working capital purposes, including the refinancing of existing debts. Keppel shares closed down 1.5 per cent or S$0.08 at S$5.18 on Wednesday, before the announcement.
Penguin International: BTM The shipbuilder on Wednesday said it was awarded a contract by Royal Dutch Shell to design, build, own and operate at least three fully-electric ferries. The fully-electric ferries are expected to replace the existing diesel-powered ferries now in use. Penguin International shares closed flat at 65.5 Singapore cents on Wednesday, before the announcement.
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