Stocks to watch: Sembcorp Industries, Singapore Paincare, Rex International

The following companies saw new developments that may affect trading of their securities on Monday (Dec 8):

Sembcorp Industries: The energy player on Monday confirmed it was in talks to acquire Australian utility company Alinta Energy. Alinta was acquired by Hong Kong’s Chow Tai Fook Enterprises in 2017. Sembcorp noted that discussions are ongoing, and that “no definitive transaction” has been entered into. Shares of Sembcorp rose 0.5 per cent to close S$0.03 higher at S$5.99 on Friday.

Singapore Paincare: The privatisation offer by Advance Bridge Healthcare for the medical services company has fallen through, said the companies on Friday. This is because the offeror could not satisfy the conditions of the scheme of arrangement by its expiry date of Nov 27. The privatisation offer of S$0.16 per share represented a premium of 27 per cent over its last traded price but was below the initial public offering price of S$0.22 per share in 2020. Shares of Singapore Paincare last traded at S$0.159 on Nov 25, before a trading halt. The counter will resume trading on Monday.

Rex International: The oil and gas company’s subsidiary Jasmine Energy (JEL) has raised US$25 million in senior secured bonds with a three-year tenor. On Monday, the group said the proceeds will be used to fund a drilling campaign of three wells in 2026 and for “general corporate purposes” by Masirah Oil, an indirect 87.5 per cent subsidiary of JEL. The settlement of the bonds is expected to take place on Dec 12, and the bonds will carry a coupon of 14 per cent. The counter closed down 0.7 per cent or S$0.001 at S$0.151, before the news.

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