Here are some stocks to watch this Tuesday morning.
Ascott Residence Trust or Ascott REIT, has acquired a second property in New York for US$158 million ($217 million). The acquisition is expected to increase Ascott’s distribution income in FY2015 by US$6.6 million at an EBITDA yield of 6.8%. This translates to a rise in distribution per unit from 7.99 cents to 8.11 cents on a pro forma basis. The acquisition will be partly funded by proceeds to be raised from a private placement of at least $100 million that was launched on Monday. The balance will be funded by debt. Ascott REIT will issue 94.8 million new units at an estimated price of $1.055 per unit and $1.085 per unit. Ascott REIT last closed at $1.13.
Keppel Land is proposing a selective capital reduction exercise to cancel all the shares still held by shareholders after being delisted. Keppel Corp currently owns 99.27% of Keppel Land, with the remaining 0.73% held by various shareholders. The participating shareholders will receive $4.24 for each share cancelled. This is the same amount paid to shareholders who had tendered their shares in last year’s voluntary unconditional cash offer, after they received the FY2014 dividend of 14 cents per share. Keppel Land will convene an extraordinary general meeting (EGM) to seek shareholders’ approval of the exercise.
Oceanus Group has called for a trading halt on Tuesday morning before the market opened. The loss-making abalone producer recently completed the restructuring of about $64.4 million of loans and almost three billion warrants. It is seeking to move from the Singapore Exchange Mainboard to the junior Catalist board and is in talks with a potential sponsor. Oceanus closed at 0.4 cent.
Seroja Investments has entered into a five-year coal barging contract in Indonesia with PT Prima Multi Mineral. The contract was secured through its subsidiary, PT Pulau Seroja Jaya, to transport between 2.5 million and 3.75 million tonnes of coal. The expected annual revenue from this contract is more than 5% of total revenue generated in FY2015 ended December. The value of the contract wasn’t disclosed. Seroja ended at six cents.
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Ascott Residence Trust or Ascott REIT, has acquired a second property in New York for US$158 million ($217 million). The acquisition is expected to increase Ascott’s distribution income in FY2015 by US$6.6 million at an EBITDA yield of 6.8%. This translates to a rise in distribution per unit from 7.99 cents to 8.11 cents on a pro forma basis. The acquisition will be partly funded by proceeds to be raised from a private placement of at least $100 million that was launched on Monday. The balance will be funded by debt. Ascott REIT will issue 94.8 million new units at an estimated price of $1.055 per unit and $1.085 per unit. Ascott REIT last closed at $1.13.
Keppel Land is proposing a selective capital reduction exercise to cancel all the shares still held by shareholders after being delisted. Keppel Corp currently owns 99.27% of Keppel Land, with the remaining 0.73% held by various shareholders. The participating shareholders will receive $4.24 for each share cancelled. This is the same amount paid to shareholders who had tendered their shares in last year’s voluntary unconditional cash offer, after they received the FY2014 dividend of 14 cents per share. Keppel Land will convene an extraordinary general meeting (EGM) to seek shareholders’ approval of the exercise.
Oceanus Group has called for a trading halt on Tuesday morning before the market opened. The loss-making abalone producer recently completed the restructuring of about $64.4 million of loans and almost three billion warrants. It is seeking to move from the Singapore Exchange Mainboard to the junior Catalist board and is in talks with a potential sponsor. Oceanus closed at 0.4 cent.
Seroja Investments has entered into a five-year coal barging contract in Indonesia with PT Prima Multi Mineral. The contract was secured through its subsidiary, PT Pulau Seroja Jaya, to transport between 2.5 million and 3.75 million tonnes of coal. The expected annual revenue from this contract is more than 5% of total revenue generated in FY2015 ended December. The value of the contract wasn’t disclosed. Seroja ended at six cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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