Stocks to watch: Keppel DC Reit, Singapore Institute of Advanced Medicine

THE following companies saw new developments that may affect trading of their securities on Friday (Dec 13):

Keppel DC Real Estate Investment Trust (Reit): Its manager announced on Thursday that the Reit’s non-renounceable preferential offering was about 159.9 per cent subscribed. It received excess applications of 79.4 per cent, or for an extra 117.8 million units. Valid acceptances hit 80.5 per cent, or 119.5 million units. Thus, it will allot 28.9 million excess preferential offering units that were not validly accepted or not taken up to satisfy applications for excess preferential offering units. In total, the manager will issue 148.4 million preferential offering units at S$2.03 each, to raise about S$301.3 million. The non-renounceable preferential offering closed on Dec 10, part of an equity funding exercise to raise gross proceeds of around S$1.1 billion. The manager expects the preferential offering new units to list on the Singapore Exchange on Dec 18, with effect from 9 am. Its units closed up S$0.01 or 0.5 per cent at S$2.20 on Thursday, before the announcement.

Singapore Institute of Advanced Medicine (SAM): The healthcare provider said on Thursday that it set up a strategic review committee that will look into improving its performance. The Catalist-listed company said the committee, set up with immediate effect, will examine ways to improve the usage of the company’s proton beam therapy, photon radiation therapy facilities and diagnostic equipment. It will also assess the sustainability of its operations and consider “any other corporate action” deemed appropriate to address its funding requirements. The move follows SAM’s external auditors PwC’s issuance of a disclaimer of opinion on the group’s results for the financial year ended Jun 30. They noted material uncertainties that could cast significant doubt on the group’s ability to continue as a going concern. Shares of SAM closed Thursday up 39.7 per cent or S$0.023 at S$0.081, before the update.

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