Stocks to watch: OCBC, Stoneweg E-Reit

[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Thursday (Apr 3):

OCBC: The lender said on Thursday that it priced 500 million euros (S$733.8 million) in fixed-rate covered bonds due 2028. The covered bonds, which are part of the lender’s US$10 billion global covered bond programme, will bear a fixed interest rate of 2.481 per cent per annum, payable annually in arrear. Shares of OCBC closed on Wednesday up 0.06 per cent or S$0.01 at S$17.22.

Stoneweg European Real Estate Investment Trust (Stoneweg E-Reit): The manager said on Thursday the proposed conversion of Stoneweg E-Reit into a stapled group comprising Stoneweg European Reit and Stoneweg European Business Trust. It will improve the Reit’s corporate structure for better tax efficiency and reduce reliance on passive income, making the stapled entity more resilient to market cycles, the manager said. The counter closed Wednesday 2 per cent or 0.03 euro higher at 1.54 euros.

Trading halt: South-east Asian iron ore mining company Southern Alliance Mining called for a trading halt on Thursday morning, pending the release of an announcement. Its shares closed flat on Wednesday at S$0.435.