THE following companies saw new developments that may affect trading of their securities on Monday (Jun 24):
Prudential: The Asia-focused insurer on Sunday announced the launch of its US$2 billion share buyback programme which is expected to be completed no later than mid-2026. It will commence the first US$700 million tranche of the programme to reduce the company’s issued shares, which is to be completed no later than Dec 27, 2024. Shares of Prudential on the Singapore Exchange ended Friday US$0.30 or 3.1 per cent lower at US$9.29.
Food Empire: The food and beverage manufacturer on Monday said it entered into a non-binding term sheet with potential strategic investor Ikhlas Capital, an Asean private equity fund manager, for a partnership and proposed issuance of up to US$40 million in redeemable exchangeable notes. The deal will give Ikhlas Capital the right, but not obligation, to exchange the notes into new Food Empire shares at S$1.09 apiece. Shares of Food Empire closed flat at S$1.01 on Friday.
