(Source: www.businesstimes.com.sg)

THE following companies saw new developments that may affect trading of their shares on Thursday:

Indiabulls Properties Investment Trust: Indiabulls Group has launched a takeover offer for its Singapore-listed property trust at 90 Singapore cents per unit with a view to delist the entity. The voluntary unconditional cash offer by Brenformexa, wholly owned by Indiabulls Real Estate, for IPIT units represents a premium of 252.9 per cent or more than three times the unit’s last transacted price of 26 Singapore cents on June 21, 2016 – the last full trading day of the units prior to its trading suspension.

Singapore Press Holdings (SPH): In a results release on Wednesday after market close, SPH announced that FY2017 net profit rose to S$350.1 million, or 22 Singapore cents per share led by gains from a partial divestment of its online regional classified business and a fair-value gain from investment properties. Operating revenue shrank by 8.2 per cent to S$1 billion. The company will pay a final cash dividend of three Singapore cents per share and a special dividend of six Singapore cents per share for a total of nine Singapore cents per share.

SIIC Environment Holdings: SIIC has received approval from local authorities for commercial operations in the expansion and upgrading of a water plant in Wuhan, China. The water treatment company said that commercial operations at the Hanxi Waste Water Treatment Plant began on Aug 24. With the expansion and upgrading, the daily design capacity of the plant will increase to 600,000 tonnes per day with a discharge standard of Grade 1B, the company said. The base tariff has been raised to 1.139 yuan (23 Singapore cents) per tonne from 0.723 yuan per tonne.

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Market voices on:

Accrelist: The systems integration specialist has proposed new share placements in two equal tranches of S$2 million each to two investors to raise S$4 million. Accrelist, formerly known as WE Holdings, said it intends to use 75 per cent of the net proceeds of S$3.94 million from the proposed placement to support mergers and acquisitions activities in the e-medical arena WE Crowdfunding. The 25 per cent of the funds raised will be used for working capital purposes for Accrelist’s subsidiary, WE Pay.

Jubilee Industries Holdings: The Catalist-listed precision manufacturer plans to raise S$15.03 million by offering its shareholders one rights share with one detachable warrant for every two shares held. Each renounceable rights share will be priced at 4.5 Singapore cents, while each warrant carries the right to subscribe for one new common share at 4.5 Singapore cents.

The issue price of the rights shares and the warrant strike price represent a 4.3 per cent discount to Jubilee’s closing price of 4.7 Singapore cents on Oct 11.

More Info: www.businesstimes.com.sg

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