Saturday, September 6, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Leadership

Stocks to watch: OCBC, Lum Chang, Suntec Reit, Acrophyte Hospitality Trust, Stoneweg Europe Stapled Trust, ICP

by Yurie Miyazawa
in Leadership
Stocks to watch: OCBC, Lum Chang, Suntec Reit, Acrophyte Hospitality Trust, Stoneweg Europe Stapled Trust, ICP
Share on FacebookShare on Twitter


[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jun 24): 

OCBC: The lender on Monday said it has no intention to convert its Class C non-voting Great Eastern shares into ordinary shares when they come up for conversion in five years as this will result in the insurer losing its free float again. The bank was responding to media reports on how OCBC can still propose the privatisation and delisting of Great Eastern by converting these non-voting shares to ordinary, voting shares. The bank added that it is opting for the Class C non-voting shares at Great Eastern’s request to help it meet the free-float requirement and resume trading. Shares of OCBC closed 0.3 per cent higher at S$15.94 on Monday before the release of the statement.

Lum Chang: Interior fit-out business Lum Chang Creations lodged a preliminary prospectus on Monday for a Catalist listing on the Singapore Exchange, following its spin-off from the mainboard-listed construction and property development company, finalised on Jun 19. Lum Chang Creations plans to use net proceeds from its initial public offering to grow its regional presence, expand its portfolio of interior fit-out and A&A projects in the high-end residential sector, and explore investment opportunities, on top of increasing its current working capital. Shares of Lum Chang closed on Monday flat at S$0.34, before the announcement.

Acrophyte Hospitality Trust: The manager in a Monday bourse filing said that it is considering a temporary suspension or reduction in distributions, options for equity fundraising, and or a recalibration of the trust’s portfolio such as brand repositioning. These come as it faces challenges funding capital expenditures required for aged properties. Units of ended Monday 1.7 per cent or US$0.005 higher at US$0.30.

(Sert): The trust has made a 50 million euros (S$74.4 million) investment in the Stoneweg Icona data-centre fund. Its stake in the fund is expected to range from four to eight per cent depending on the final quantum of investment made by the other investors. The Icona data centre portfolio comprises interests in four early-stage data centre developments in Ireland, Spain, Italy and Denmark with a total size of 225 hectares. The current estimated gross development value for the four projects over the next 15 years is 29.5 billion euros at current market values, according to valuer JLL. The counter ended flat at 1.52 euros on Monday. 

ICP: The major shareholder of ICP, Aw Cheok Huat, who is looking to privatise the hospitality player, announced that the offer closed at 5.30 pm on Monday. Valid acceptances amounted to around 546.3 million shares or 16.3 per cent of the total issued shares. This brings shares owned by the offeror and his concert parties to around 2.6 billion or 76.5 per cent of total issued shares. The counter closed Monday flat at S$0.008.

Trading halt: Zico Holdings called for a trading halt on Tuesday morning pending the release of an announcement. The counter ended Monday 1.8 per cent or S$0.001 lower at S$0.055.

Copyright SPH Media. All rights reserved.

Tags: AcrophyteChangEuropeHospitalityICPLumOCBCReitstapledStocksStonewegSuntecTrustWatch
Yurie Miyazawa

Yurie Miyazawa

Next Post
Stoneweg European Business Trust invests 50 million euros in fund with early-stage data centre sites

Stoneweg European Business Trust invests 50 million euros in fund with early-stage data centre sites

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In