Stocks to watch: OCBC, CapitaLand Investment, Sasseur Reit, Thakral

The following companies saw new developments that may affect trading of their securities on Monday (Jun 9).

OCBC: The bank has made a S$900 million conditional exit offer at S$30.15 per share for the 6.28 per cent stake in Great Eastern it does not own, in a bid to delist the insurer. The offer, which OCBC said on Friday was made “at the request of Great Eastern”, will resolve the latter’s 11-month suspension in share trading, while “providing its shareholders an exit at a fair and reasonable price”. If the exit offer is not approved, shareholders will have to vote on a bonus issue to increase the public float. Shares of OCBC closed 0.3 per cent of S$0.05 higher at S$16.28 on Friday.

CapitaLand Investment (CLI): The company has raised additional capital from new and existing institutional investors for its value-add lodging private fund. This includes the acquisition of a prime mixed-use asset in Japan valued at over 30 billion yen (S$267.2 million). As a result, CLI’s funds under management will also increase by around S$470 million, as it holds a stake of about 20 per cent in the fund. Shares of CLI closed 0.8 per cent or S$0.02 higher at S$2.56 on Friday.

Sasseur Real Estate Investment Trust (Reit): The manager said a wholly owned subsidiary of its sponsor has entered into an unsecured sponsor loan agreement of up to 508 million yuan (S$91.1 million). The proceeds from the sponsor loan will help to repay existing offshore bank loans, due in March 2026. As the sponsor loan is denominated in renminbi, this will result in cost savings for the Reit, the manager said in a bourse filing on Friday. Units of Sasseur Reit closed S$0.01 or 1.6 per cent higher at S$0.625 on Friday, before the announcement.

Thakral Corp: The property investor’s associate GemLife is considering an initial public offering on the Australian Securities Exchange in the form of stapled securities. GemLife, a lifestyle resorts business in Australia, is in “advanced discussions with potential underwriters for the proposed IPO”, said the mainboard-listed company in a bourse filing on Friday evening. Shares of Thakral closed S$0.08 or 5 per cent lower at S$1.52 on Friday before the announcement.

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