Stocks to watch: Keppel Reit, OUE Reit

The following companies saw new developments that may affect trading of their securities on Thursday (Oct 9):

Keppel Reit: The manager of the real estate investment trust (Reit) announced on Thursday that the private placement to raise about S$113 million for the acquisition of Top Ryde City Shopping Centre in Sydney, Australia, has closed. The issue price per unit was S$0.983, about a 4.6 per cent discount to the volume-weighted average price of S$1.0304 per unit of all trades from Tuesday until the agreement was signed on Wednesday. The trading of the new units is expected to commence on Oct 17. Units of Keppel Reit finished Tuesday flat at S$1.03, before the manager called for a trading halt on Wednesday morning. The counter resumes trading on Thursday.

OUE Reit: Its wholly owned subsidiary OUE Reit Treasury has issued its second seven-year investment-grade green notes, the manager said on Wednesday. The offering, announced on Sep 29, garnered a peak order book of S$412.8 million, representing an oversubscription rate of 2.8 times. The initial price guidance was 3.05 per cent and the final pricing was 2.75 per cent. Units of OUE Reit closed on Wednesday at S$0.345, down by S$0.005 or 1.4 per cent, before the news.