These are Singapore companies and other developments which may be in focus on Monday, 16 September 2019: HKEx, London Stock Exchange, City Developments, Millennium & Copthorne Hotels, Ascendas Hospitality Trust, Soilbuild REIT, TEE International, Boustead Singapore, CapitaLand, Lian Beng, EMAS Offshore and Raffles United.
This article was originally published on Saturday, 14 September 2019 at 12:14 A.M. SGT; it has since been updated to add Keppel DC REIT, Keppel Infrastructure Trust and Straits Trading.
Keppel DC REIT and Keppel Infrastructure Trust
Keppel DC REIT entered deals to acquire two data centers in Singapore, one partly owned by Keppel Infrastructure Trust and the other partly owned by Keppel Data Centres Holdings, for a total of around S$585.1 million, the companies said in filings to SGX Monday.
Keppel DC REIT
Keppel DC REIT plans to raise around S$473.8 million via an equity fundraising including a private placement and a preferential offering to finance the proposed acquisitions of two data centers, the REIT said in a filing to SGX Monday.
HKEx and London Stock Exchange
The London Stock Exchange Group rejected Hong Kong Exchanges and Clearing’s around 29.6 billion pound (S$50.56 billion or US$36.85 billion) takeover bid in no uncertain terms, saying it had “fundamental concerns” about the proposal, including whether it would even be permitted.
City Developments and Millennium & Copthorne Hotels
Millennium & Copthorne Hotels said Friday it will apply to cancel the listing of its shares on the London Stock Exchange after City Developments’ takeover bid resulted in it holding or agreeing to acquire 75 percent of the hotel operator.
Ascendas Hospitality Trust
Ascendas Hospitality Trust terminated its deal to acquire the under-development serviced apartment component of a mixed-use development in Melbourne, Australia, from UEM Sunrise, the trust said in a filing to SGX Friday.
Soilbuild Business Space REIT’s preferential offering received valid acceptances and excess applications for 157.49 million units, or 81.97 percent of the new units available, the REIT said in a filing to SGX Friday.
TEE International’s CEO and managing director, Phua Chian Kin, has informed the company he received offers to buy the shares he holds, the company said in a filing to SGX Friday.
TEE International appointed PricewaterhouseCoopers Risk Services as its external investigator to probe unauthorized remittances and their impact on the financial statements as well as whether there were other undisclosed payments, the company said in a filing to SGX Friday.
Chong Ngien Cheong, who has been an independent, non-executive director at Boustead Singapore since 1996, sold 23.78 million of the company’s shares, or his entire 4.89 percent deemed and direct stake, for S$17.48 million in an off-market transaction, it said in a filing to SGX Friday.
He had held a 0.8 percent direct interest and a 4.81 percent deemed interest, the filing said. Chong was deemed interested in the shares held by Sang Chun Holdings, in which he owns at least 50 percent of the voting shares, the filing said
Wong Fong Fui, Boustead’s CEO and chairman, acquired the shares, raising his deemed interest to 41.48 percent from 36.59 percent previously, it said in a separate filing to SGX.
CapitaLand said Friday it increased the registered capital of its wholly owned subsidiary ASB Flex China (AFCL) to 65 million yuan, or around S$12.62 million, from 26 million yuan previously.
AFCL, a China-based property management company, will used the proceeds to fund its working capital, CapitaLand said in a filing to SGX.
Lian Beng Group’s 60 percent-owned subsidiary United Tec Construction landed an around S$107.5 million contract from CEL Newton to build a residential development at Kampong Java Road, the company said in a filing to SGX Friday.
The Straits Trading Co. announced Sunday it appointed Eric Teng as CEO of its wholly owned subsidiary Straits Developments, effective 1 October.
For 2016 through the present, Teng was executive director and CEO at Heeton Holdings, the filing said.
EMAS Offshore said Friday its application to be placed under judicial management will be heard by the High Court of Singapore on 23 September.
Raffles Infinity said Friday that its takeover bid for Raffles United has resulted in it controlling around 95.07 percent of the target company.
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