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Stocks to watch: Singtel, TEE Intl, Mapletree Industrial Trust, OUE, Golden Energy, JEP
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Singtel: As part of its mega fundraising exercise, Singtel's Indian associate Bharti Airtel will issue US$1 billion of 1.5 per cent foreign-currency convertible bonds due 2025. Airtel will also place out some 323.6 million shares at an issue price of 445 rupees apiece, raising 144 billion rupees (S$2.74 billion) under a qualified institutional placement, Singtel said on Wednesday. Shares of Singtel fell two Singapore cents or 0.6 per cent to close at S$3.25 on Tuesday.
TEE International: TEE International saw its net loss widen to S$35.9 million for its second quarter ended Nov 30, 2019, from a loss of S$3.2 million a year ago. Based on continuing operations, the group's loss per share stood at 3.79 Singapore cents for the quarter, from a loss per share of 0.31 cent a year ago. TEE International shares closed at 5.7 Singapore cents on Tuesday, down 0.7 cent or 10.9 per cent, before the results were announced.
Mapletree Industrial Trust (MIT): A joint venture between MIT and Mapletree Investments has completed the acquisition of 10 powered shell data centres in North America for some US$557.3 million. The deal with data centre provider Digital Realty was completed on Tuesday, MIT's manager said in a regulatory filing on Wednesday morning. MIT units closed at S$2.78 on Tuesday, up nine Singapore cents, or 3.4 per cent.
OUE: OUE on Tuesday said it has pared its stake in Hong Kong-listed real estate developer Gemdale Properties and Investment Corporation from 27.8 per cent to 23.8 per cent, after selling about 635.5 million shares of par value HK$0.10 each at HK$0.91 apiece. The aggregate consideration of about HK$578 million (S$100.2 million) will be paid wholly in cash. OUE shares closed flat at S$1.49 on Tuesday.
Golden Energy and Resources: The mainboard-listed thermal coal miner and mining private equity fund EMR Capital will buy a gold mine in Australia for up to A$300 million (S$278.8 million), Golden Energy said on Wednesday morning. The counter closed up S$0.015 or 7.5 per cent to S$0.215 on Tuesday.
JEP Holdings: Aerospace component maker JEP Holdings said its wholly-owned unit, JEP Industrades, has been served a writ of summons and a statement of claim by Korea-domiciled plaintiff, YG-1 Co, in the High Court of Singapore. This was for claims of about US$219,000 in relation to outstanding payables amount for shipment made in 2016. The counter closed flat at S$0.24 on Tuesday, before this announcement.
Miyoshi: Manufacturer Miyoshi on Tuesday evening posted a net loss of S$314,000 for its first quarter ended Nov 30, compared to a net profit of S$4.3 million a year ago. Revenue dipped 3.5 per cent to S$14 million, from S$14.5 million a year ago. Loss per share was 0.01 cent, a reversal from earnings per share of 0.71 cent a year ago. The counter closed flat at 3.3 Singapore cents on Tuesday.
BlackGold Natural Resources: Catalist-listed coal-mining firm BlackGold on Tuesday said its "unusual price and volume movements" might have been due to the fact that the company is actively exploring potential corporate fundraising exercises to improve its operations capability. BlackGold shares rose 0.3 Singapore cent or 25 per cent to finish at S$0.015, on a volume of 63 million shares that changed hands on Tuesday.