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Stocks to watch: SPH Reit, MLT, ISOTeam, Jumbo, Nordic, Tritech, Addvalue
THE following companies saw new developments that may affect trading of their securities on Friday:
SPH Reit: Its private placement has raised S$164.5 million to partially fund the proposed acquisition of a half stake in an Australian mall, SPH Reit said on Friday morning. The issue price was S$1.05 per new unit, in the middle of the indicative range announced on Thursday. SPH Reit requested to lift its trading halt on Friday before the market opened. Its units last closed flat at S$1.11 on Wednesday.
Mapletree Logistics Trust (MLT): The real estate investment trust (Reit) has bagged its first sustainability-linked loan. The S$200 million six-year committed revolving credit facility from OCBC Bank is designed with reference to MLT's rooftop solar installation programme for its logistics properties in Asia-Pacific. The counter fell two cents to S$1.65 at Thursday’s close, before the announcement was released.
ISOTeam: The Catalist-listed facilities maintenance specialist has clinched fresh contracts totalling S$35.4 million. These will include development, upgrading and maintenance works for the Singapore Botanic Gardens, Jurong Lake Gardens, Fort Canning Park and the Istana. Shares of ISOTeam fell 0.5 Singapore cent or 2 per cent to close at 24 cents on Thursday before the announcement.
Jumbo Group: Its wholly-owned subsidiary Jumbo F&B Services has signed an 80:20 joint venture agreement with strategic partner Baipin Co to boost the group's operational efficiency in Taiwan. Shares of Catalist-listed Jumbo closed flat at S$0.375 on Thursday before the announcement.
Nordic Group: The mainboard-listed systems integration solutions provider has bought environmental engineering firm Envipure for S$14.8 million in cash. In a filing on Thursday night, Nordic said it had entered into a sale and purchase agreement with the vendor, and the acquisition was completed on the same day. Accordingly, Envipure has become a wholly-owned subsidiary of the group. Shares in Nordic closed unchanged at 27 Singapore cents on Wednesday.
Tritech Group: It has proposed a share placement of up to 110.8 million new shares at S$0.0388 apiece to raise some S$4.2 million for working capital requirements. The issue price represents a discount of around 5.83 per cent to the volume weighted average price of S$0.0412 per share, based on trades done on Nov 18. The group on Friday requested to lift its trading halt. It last traded at 4.3 Singapore cents on Monday.
Addvalue Technologies: The mainboard-listed firm has partnered with Inmarsat and Network Innovations to launch an IP-based broadband terminal and vessel monitoring system for US fishing vessels. Shares of Addvalue, which designs and develops communications technologies, closed down S$0.001 or 4 per cent to S$0.024 on Thursday, before the announcement was made.