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Stocks to watch: UOB, Singapore Airlines, ST Engineering, Cromwell E-Reit
THE following companies saw new developments that may affect trading of their securities on Wednesday:
UOB: The bank on Wednesday said it has priced one billion euros (S$1.6 billion) of seven-year covered bonds at 0.01 per cent. The bonds will be issued above par, at 101.553 per cent. UOB shares closed at S$23.60 on Tuesday, up S$0.47 or 2 per cent.
Singapore Airlines (SIA): The national carrier has priced S$500 million worth of 3.5 per cent notes due 2030 under its S$10 billion multi-currency medium-term note programme, which it has upsized from S$5 billion previously. Shares of SIA closed at S$4.41 on Tuesday, up S$0.34 or 8.4 per cent.
ST Engineering: US-based investment management holding company The Capital Group Companies is now deemed a substantial shareholder of ST Engineering, after its purchase of 1.38 million shares via a market transaction on Nov 20 bumped its shareholding from 4.96 per cent to 5.01 per cent. Shares of ST Engineering closed at S$4.04 on Tuesday, up S$0.07 or 1.8 per cent.
Cromwell European Real Estate Investment Trust (Cromwell E-Reit): Its manager said on Wednesday morning that it has entered into an agreement to acquire a logistics park in Italy for 52.6 million euros (S$84.2 million). Units of Cromwell E-Reit closed at 47.5 euro cents on Tuesday, up 0.5 cent or 1.1 per cent.
Sim Leisure Group: The group, through its subsidiary, has obtained a loan of up to RM7 million (S$2.3 million) from its controlling shareholder Tan Boon Seng, in part to fund the group's proposed acquisition of the operator of family attraction KidZania in Kuala Lumpur. Sim Leisure has requested to lift the trading halt that it called for on Monday. Shares of the Catalist-listed group last traded at 22.5 Singapore cents on Nov 19.
HC Surgical Specialists (HCSS): Serene Tiong, who was sued by HCSS surgeon Julian Ong for defamation, has failed in her application for leave to appeal to the Court of Appeal against the High Court's decision on Oct 2. Shares of Catalist-listed HCSS closed at 40.5 Singapore cents on Tuesday, up 0.5 cent or 1.3 per cent.
Broadway Industrial: Shares of the mainboard-listed group hit a near 3.5-year high on Tuesday after the precision manufacturer announced it received a US$50 million offer for its hard disk business from the largest production outfit of the Seksun group of companies. The counter closed 33.1 per cent or 4.1 Singapore cents higher at 16.5 cents on Tuesday.