Stocks to watch: Keppel, Keppel DC Reit, mm2 Asia, China Medical System Holdings, Southern Alliance Mining

The following companies saw new developments that may affect trading of their securities on Tuesday (Sep 23):

Keppel: The infrastructure division of asset manager Keppel and Keppel Asia Infrastructure Fund (Kaif) announced on Tuesday a joint divestment of their combined 80 per cent interest in 800 Super Holdings. The proposed transaction marks Kaif’s first sale and values 800 Super at over S$600 million, based on 100 per cent of the waste management group’s enterprise value. Kaif holds a 48 per cent stake in 800 Super, while Keppel holds a 32 per cent interest. Both parties will receive their share of the consideration in cash. Shares of Keppel closed flat on Monday at S$8.82 before the news.

Keppel DC Reit: The manager of the real estate investment trust announced on Monday that it has entered into an agreement to acquire all the interest in the freehold Tokyo Data Centre 3 for 82.1 billion yen (S$707 million). Keppel DC Reit will hold a 98.5 per cent interest in the data centre, while Keppel will hold the remainder. Keppel DC Reit also launched a preferential offering to raise gross proceeds of approximately S$404.5 million, with proceeds to be partially used to fund the acquisition. Shares of Keppel DC Reit closed flat at S$2.36 on Monday, before the announcement.