Stocks to watch: CapitaLand Integrated Commercial Trust, UOL, SingLand, Amos

THE following companies saw new developments that may affect trading of their securities on Friday (Sep 27):

CapitaLand Integrated Commercial Trust (CICT): The trust will issue 377.3 million new units to raise gross proceeds of about S$757.2 million from its preferential opening that closed on Tuesday. Together with around S$350.3 million raised from an earlier private placement, this brings gross proceeds to about S$1.1 billion. Most of the proceeds will be used to fund a proposed acquisition of a 50 per cent interest in Ion Orchard mall and its connecting underpass, Ion Orchard Link, from its sponsor CapitaLand Investment. The preferential offering units are expected to be listed and quoted on the mainboard of the Singapore Exchange from 9 am on Oct 2. Units of CICT closed on Thursday up S$0.04 or 1.9 per cent at S$2.14, before the announcement.

UOL, Singapore Land Group (SingLand): The property developers are in preliminary confidential discussions with an unnamed party to potentially acquire a 50 per cent stake in a Sydney office and retail building. The transaction is not guaranteed as discussions are ongoing, but both companies said they will make an announcement if there are further material developments. The Australian Financial Review reported earlier that Canadian property group Brookfield was selling UOL its half stake in a 28-storey Sydney office tower for a deal consideration between A$450 million (S$397 million) and A$480 million, representing a 6.2 per cent capitalisation rate. Shares of UOL rose S$0.07 or 1.3 per cent to S$5.58 on Thursday, while SingLand closed S$0.01 or 0.6 per cent lower at S$1.81.