Stocks to watch: OCBC, Keppel DC Reit, Jardine C&C, NetLink NBN Trust, Fu Yu

The following companies saw new developments that may affect trading of their securities on Friday (Jun 6).

OCBC: The bank’s insurer, Great Eastern, seeks to delist through OCBC exit offer of S$30.15 per share. The bank has made a S$900 million conditional exit offer 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”, is aimed at resolving the latter’s 11-month suspension in share trading, while “providing its shareholders an exit at a fair and reasonable price”. OCBC shares ended Thursday flat at S$16.23.

Keppel DC Real Investment Estate Trust (Reit), Jardine Cycle & Carriage (C&C), NetLink NBN Trust: The Reit will replace Hong Kong-based conglomerate Jardine C&C on the benchmark Straits Times Index (STI), following a quarterly review. Internet service provider NetLink NBN Trust will replace Keppel DC Reit on STI’s reserve list, said the index’s administrator FTSE Russell on Thursday. Units of Keppel DC Reit closed S$0.02 or 0.9 per cent higher at S$2.19, while shares of Jardine C&C closed S$0.08 or 0.3 per cent lower on Thursday at S$23.85, before the announcement. Shares of NetLink NBN Trust ended S$0.005 or 0.6 per cent lower at S$0.865.

Fu Yu: The components manufacturer said on Friday that independent auditor Baker Tilly has qualified its FY2024 audited accounts due to an ongoing investigation into a subsidiary. The potential financial impact of the case remains undetermined, and shareholders are advised to review the full report and exercise caution, the auditor said. Shares of Fu Yu closed flat at S$0.097 on Thursday.

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