Stocks to watch: CapitaLand Ascendas Reit, Seatrium, Sembcorp, mm2 Asia, Singapore Paincare

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (May 29).

CapitaLand Ascendas Reit (Clar): The company reported that it has raised S$500 million from a private placement of 202.4 million units priced at S$2.47 each, on Thursday. The issue price is a 5.2 per cent discount to the volume weighted average price of S$2.6059 on May 27 when it last traded. The private placement was about 4.1 times subscribed. The company has also requested for shares to continue trading on Thursday. Shares of Clar last closed flat at S$2.61 on Tuesday.

Seatrium: Its net orderbook wins stood at S$21.3 billion as of March, the company announced on Thursday. This comprised 26 projects with deliveries extending to 2031. Projects related to renewables and green or cleaner solutions amounted to S$7.1 billion of its net order book. The counter ended on Wednesday 0.5 per cent or S$0.01 higher at S$2.06.

Sembcorp: Its wholly owned renewables subsidiary Sembcorp Green Infra secured a solar energy storage hybrid project in India, the group said on Thursday. Under the project, it will supply solar power and support electricity demand for four hours per day through a 300 megawatt-hour battery energy storage system. The counter ended on Wednesday 1 per cent or S$0.07 lower at S$6.64

mm2 Asia: The media company on Wednesday entered into a sale and purchase agreement with private equity fund Hildrics Asia Growth Fund VCC to dispose of 21.02 per cent of its stake in subsidiary Vividthree Holdings for S$1.7 million. Mainboard-listed mm2 Asia currently holds about 29.9 per cent of the total issued and paid-up share capital of Vividthree. Following the proposed disposal, the company will hold about 8.9 per cent of Vividthree’s total issued and paid-up share capital. Shares of mm2 Asia ended flat at S$0.009 on Wednesday.

Singapore Paincare: The medical-services company has received an acquisition bid for S$0.16 a share from Advance Bridge Healthcare, a management consultancy for healthcare services. This values the company at US$25.7 million, comprising 171 million shares, and represents a premium of 27 per cent over Singapore Paincare’s last traded price of S$0.126 on Monday. The company requested a trading halt on Tuesday, almost three months after it first announced via a bourse filing in March. Shares of Singapore Paincare closed flat at S$0.14 on Tuesday before the trading halt was requested.