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Stocks to watch: Tiong Seng, Mapletree Industrial Trust, Keppel DC Reit, Wing Tai, Jumbo
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Tiong Seng Holdings: The mainboard-listed construction firm said on Tuesday that its chief executive and executive director Pek Lian Guan and project director Pay Teow Heng are on bail amid a corruption probe. Mr Pek and Mr Pay were interviewed by the Corrupt Practices Investigation Bureau (CPIB) on Sept 12 and Sept 11 respectively over "certain staff loan transactions" entered into by the group’s unit Tiong Seng Contractors. Tiong Seng shares last traded on Sept 9 at S$0.21, down 0.5 Singapore cent or 2.3 per cent.
Mapletree Industrial Trust (MIT): MIT on Tuesday morning announced that it is looking to raise at least S$350 million through a private placement to partially fund its joint purchase of a North American data centre portfolio worth US$1.37 billion (S$1.9 billion), which the trust said would cost it about S$965 million. It is issuing 158.3 million new units at an issue price of S$2.211 to S$2.265 per unit, with an upsize option to issue up to 22.6 million new units that would raise at least another S$50 million. MIT's units closed flat at S$2.330 on Monday, before it called for a trading halt on Tuesday morning prior to this announcement.
Keppel DC Reit: The Reit has raised S$478.2 million through a private placement of 135 million units at an issue price of S$1.744 per unit, and a preferential offering of about 142 million units at an issue price of S$1.71. The private placement announced on Monday, drew strong demand from new and existing investors, which led to the book being approximately 9.3 times subscribed, the manager of Keppel DC Reit said. Units in Keppel DC Reit last traded at S$1.80 on a cum dividend basis, up 2.3 per cent, or four Singapore cents on Sept 13. The company requested for the lifting of its trading halt late on Monday night following this announcement.
Wing Tai Holdings: The regional property and lifestyle group said on Monday that a trustee of its wholly-owned subsidiary WT DC Trust II has agreed to buy a freehold data centre in Australia for A$51 million (S$48.2 million) from seller Evergreen Nominees (Victoria). The data centre is is located within Tally Ho Business Park in Victoria and is wholly leased to a major IT services company listed on the New York Stock Exchange, said Wing Tai. The counter closed higher at S$2.05 on Monday, up 1 Singapore cent or 0.5 per cent.
Jumbo Group: The seafood restaurant operator has opened its second Tsui Wah outlet in Singapore at The Heeren along Orchard Road. The new outlet occupies a total floor area of over 4,800 square feet, with a seating capacity of 192 seats comprising quick service, alfresco, and indoor dining areas. Tsui Wah is a restaurant offering Hong Kong dishes which saw its first outlet opened by Jumbo in June last year at Clarke Quay. The counter closed flat at S$0.38 on Monday before the announcement was made.
Star Pharmaceutical: The closing date of the S$0.45 a share offer for the prescription drug manufactuer's has been extended to 5.30pm on Oct 7. As at 5pm on Sept 16, the number of valid acceptances and total number of shares owned, controlled or agreed to be acquired by the offeror and its concert parties amount to a shareholding of 82.37 per cent. The counter last traded flat at S$0.45 on Sept 12.
Artivision Technologies: The Catalist-listed company has inked an amended and restated conditional sale and purchase agreement (SPA) for the proposed acquisition of electronic payment and online retail business Mobile Credit Payment (MC Payment). The company also announced on Tuesday that it had entered into a settlement agreement with Ching Chiat Kwong, a controlling shareholder. Artivision will issue about S$10 million worth of new shares to Mr Ching, and he will acquire all company bonds and options from the respective holders. The counter last closed unchanged at 0.5 Singapore cent on Sept 10. It has also called for its trading halt to be lifted.
Trading halt: Processed timber products company Samko Timber has also called for a trading halt pending an announcement.