Stocks to watch: Olam, Raffles Medical, Sats, UOB, CapitaLand India Trust, Venture

THE following companies saw new developments that may affect trading of their securities on Monday (Feb 24):

Olam: The group on Monday announced that it will sell its remaining 64.57 per cent stake in Olam Agri to Saudi Agricultural and Livestock Investment Company (Salic) over two tranches, for a total sum of US$4 billion. The consideration is a 14 per cent premium to the US$3.5 billion valuation at which Salic first acquired a 35.43 per cent stake in Olam Agri in 2022. Shares of Olam ended Friday 0.9 per cent or S$0.01 lower at S$1.13.

Raffles Medical: The medical service provider on Monday reported a 4.3 per cent rise in net profit to S$31.6 million for its second half ended Dec 31, from S$30.3 million in the previous corresponding period. This translates to an earnings per share (EPS) of S$0.017 against an EPS of S$0.0163 previously. Shares of Raffles Medical closed Friday 0.6 per cent or S$0.005 lower at S$0.825, before the results were announced.

Sats: The catering and ground handling company on Friday reported a 123.5 per cent increase in net profit to S$70.4 million for the third quarter ended Dec 31, from S$31.5 million a year earlier. Revenue rose 12.5 per cent year on year to S$1.5 billion, from S$1.4 billion. Shares of Sats closed at S$3.30 on Friday, up 0.3 per cent or S$0.01, before the results were released.

UOB: The lender announced on Friday that its Sydney branch priced its A$2 billion (S$1.7 billion) floating rate senior unsecured notes. The notes will be due on Feb 28, 2028, and have a coupon of three-month bank bill swap rate plus 0.65 per cent per annum payable quarterly in arrear. Shares of UOB closed at S$38.38 on Friday, down 0.1 per cent or S$0.05, before the announcement.

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