Singapore stock preview: SPH, A-Reit, SGX
Here are three SGX-ST mainboard stocks to note for the week of 01 November 2021.
- Singapore Press Holdings share price closed 6.5% higher on Monday (01 November)
- Ascendas Reit share price inches up 0.65% after issuing HK$950 million of 2.63% notes
- Singapore Exchange share price were lifted by 1.45% following a new partnership with a Shanghai Stock Exchange subsidiary
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Singapore Press Holdings (SGX: T39)
Singapore Press Holdings Limited (SPH) received an unsolicited proposal from Temasek-backed real estate consortium Cuscaden Peak Pte. Ltd. last Friday (29 October), to acquire all of the issued ordinary shares of SPH for S$2.10 a share.
The proposed acquisition will be by way of a scheme of arrangement pursuant to Section 210 of the Companies Act, Chapter 50 of Singapore.
Cuscaden then clarified on Monday that the minimum Chain Offer Price which it is obliged to offer under the SPH REIT Chain Offer, if and when made, will be S$0.964 fully in cash for each SPH REIT Unit.
This came after the Securities Industry Council confirmed that the minimum offer price for the SPH REIT Chain Offer shall be the simple average of the daily volume-weighted average traded prices of the SPH REIT Units on the SGX-ST on either the latest 20 trading days or whatever number of trading days there were within the 30 calendar days prior to the Possible Offer announcement date.
Ascendas Reit (SGX: A17U)
Ascendas Funds Management (S) Limited, in its capacity as manager of Ascendas Real Estate Investment Trust, announced that its trustee HSBC Institutional Trust Services (Singapore) Limited has issued HK$950 million worth of 2.63% notes due in 2031.
The notes were issued under the S$7 billion Euro Medium Term Securities Programme on 1 November 2021. They were priced on 25 October 2021.
The notes, which have been assigned a rating of “A3” by Moody’s Investors Service, will mature on 24 October 2031 with a fixed interest rate of 2.63% per annum payable annually in arrear.
DBS Bank Ltd. was appointed as the sole lead manager for the Notes.
The net proceeds will be used towards financing the general working capital purposes of Ascendas Reit and its subsidiaries (if any), including financing or refinancing the acquisitions of Ascendas Reit and its subsidiaries (if any).
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Singapore Exchange (SGX: S68)
Singapore Exchange (SGX) has entered into an agreement with Shanghai Stock Exchange’s (SSE) wholly-owned subsidiary, China Investment Information Services (CIIS), to distribute its securities market data within Mainland China from 01 November 2021.
The data offers market participants real-time access to prices in Asia’s most international marketplace.
Under the agreement, CIIS will be responsible for the distribution, marketing and sales of key SGX securities data to market data vendors, brokers and media channels in China.
SGX will further support this initiative with on-the-ground investor education. Investors can gain access to data on listed companies across wide-ranging industries, including SGX’s REITs (S-REITs) and Property Trusts.
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