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Stocks to watch: SIA, Boustead, Ban Leong

by Mark Darwin
in Lifestyle
Stocks to watch: SIA, Boustead, Ban Leong
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[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jun 13).

Singapore Airlines (SIA): An Air India plane bound for London crashed moments after taking off from the city of Ahmedabad on Thursday and more than 240 casualties have been reported, authorities said. The Boeing 787-8 Dreamliner, with 242 people on board, which was headed for Gatwick Airport, south of the British capital, had only one survivor after it crashed into a medical college hostel during lunch hour. SIA has a 25.1 per cent stake in Air India following a merger of Vistara – its full-service airline joint venture with Tata Sons – with India’s national carrier. Shares of SIA closed 0.4 per cent or S$0.03 lower at S$7.03 on Thursday.

Boustead: The company announced that it is conducting strategic reviews for the sale of its stake in some of its logistics and industrial real estate assets to a real estate investment trust (Reit), to be listed on the mainboard of the Singapore Exchange (SGX). The engineering and technology group said on Thursday that the review is part of its “ordinary course of business to periodically consider options and opportunities” in relation to its investments to unlock shareholder value. The counter closed 0.8 per cent or S$0.01 higher at S$1.25 on Thursday, before the announcement.

Ban Leong: The technology products distributor on Thursday announced that its offeror, Epicsoft Asia, has acquired around 93 per cent or 100.2 million shares of Ban Leong. Consequently, the percentage of the total number of issued shares held in public hands has fallen below 10 per cent, the company said in a bourse filing. It added that Epicsoft Asia intends to acquire all the offered shares not yet acquired. Shares of Ban Leong closed flat at S$0.60 on Thursday.

Trading halt

Stoneweg European Reit (Stoneweg E-Reit): Units of Stoneweg E-Reit will cease to trade on SGX on Jun 13 from 5 pm, the company announced on Thursday. Prior to the trading halt announcement, the manager of the Reit announced that it will be converted into a stapled group. Each unit of Stoneweg E-Reit will be stapled to a unit in Stoneweg European Business Trust. It will then form a stapled security in an entity known as Stoneweg Europe Stapled Trust. The stapled securities will be traded on SGX with effect from Jun 16, 9 am. The counter ended 0.6 per cent or 0.01 euros higher at 1.59 euros on Thursday.

Copyright SPH Media. All rights reserved.

Tags: BanBousteadLeongSIAStocksWatch
Mark Darwin

Mark Darwin

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