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Stocks to watch: CapitaLand Investment, Silverlake Axis, Ossia International

by Riah Marton
in Technology
Stocks to watch: CapitaLand Investment, Silverlake Axis, Ossia International
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THE following companies saw new developments that may affect trading of their securities on Tuesday (Sep 3):

CapitaLand Investment (CLI): It has agreed to sell a 50 per cent interest in Ion Orchard and its connecting underpass, Orchard Link, to CapitaLand Integrated Commercial Trust (CICT) for an estimated purchase consideration of S$1.1 billion. On Tuesday, CICT’s manager said it will finance the transaction with proceeds from a private placement and a preferential offering. Shares of CLI closed Monday S$0.02 or 0.7 per cent lower at S$2.69, while CICT units were up S$0.01 or 0.5 per cent to S$2.13 before the trust requested a trading halt on Tuesday morning.

Silverlake Axis: It has appointed PrimePartners Corporate Finance to be its independent financial adviser (IFA) regarding the voluntary unconditional offer it received to take the company private at S$0.36 in cash per share. The IFA will advise the directors of Silverlake Axis, who will subsequently make a recommendation to shareholders about the offer. The counter closed flat at S$0.375 on Monday, before the news.

Tags: AxisCapitaLandInternationalInvestmentOssiaSilverlakeStocksWatch
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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