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Business Times
5 days ago
- Business
- Business Times
Stocks to watch: SGX, Frasers Centrepoint Trust, NTT DC Reit, BRC Asia
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 15): Singapore Exchange (SGX) : Shares of Hong Kong-listed pharmaceutical group China Medical System are expected to commence trading on the SGX on Jul 15, although there is no guarantee that the proposed listing will happen as it is subject to conditions. The closing price of its shares as quoted on the Hong Kong Stock Exchange on Monday was HK$12.540, the company said in a bourse filing on Monday. SGX shares closed on Monday 1.2 per cent or S$0.18 higher at S$15.64. Frasers Centrepoint Trust (FCT) : The manager of FCT announced that the agreement between the trustee-manager and property manager of retail mall Northpoint City South Wing has been automatically renewed for a further 12 months commencing from Monday. The agreement is generally aligned with the property management agreements across all retail malls owned by FCT and managed by the property manager, and include the adjoining retail mall known as Northpoint City North Wing. Units of FCT closed up 1.4 per cent or S$0.03 at S$2.22 before the news. NTT DC Reit: Units of the real estate investment trust (Reit) commenced trading on the local bourse at 2 pm on Monday, marking the largest Reit initial public offering on the SGX in a decade. Pol de Win, head of global sales and origination at SGX Group, noted that the listing 'underscores Singapore's position as Asia's leading Reit hub'. Units of NTT DC Reit closed flat at the offer price of US$1 on Monday. BRC Asia : The prefabricated steel reinforcement company secured around S$570 million worth of contracts for the Changi Airport Terminal 5 project, where it will supply steel reinforcement for the substructure of the upcoming terminal. The group said on Monday that the new contracts bring its outstanding sales order book to S$2 billion as at Jul 14, and extend its revenue visibility through to 2029. Shares of BRC Asia closed flat at S$3.33 before the announcement.
South China Morning Post
6 days ago
- Business
- South China Morning Post
Singapore IPO revival hopes rise as NTT's Reit debut gains
Advertisement NTT DC Reit gained as much as 3 per cent on Monday in its trading debut, outpacing the benchmark Straits Times Index. This came after it secured the city state's sovereign wealth fund as a rare cornerstone investor. The US$773 million data centre listing is being closely watched as the spark that could revive Singapore's moribund IPO scene, following an all-hands-on-deck effort to reboot it. There was a palpable sense of relief among the executives, bankers and exchange officials at the trading ceremony, where a big barrel of sake was broken to symbolise new beginnings and good fortune. With the IPO, Singapore hopes to join the party in the region. Bourses across Asia-Pacific have been raking in new listings, with firms raising US$39 billion of fresh capital so far this year, the most since 2023. Hong Kong – the world's top IPO venue this year – and India are booming, while the city state has watched from the sidelines. 'This listing is hugely important,' said Pol de Win, head of global sales and origination with bourse operator Singapore Exchange (SGX). 'The IPO market has been challenging for a while, so it's important to see a high quality asset come to market and show the way for others.' The exchange, along with banks and others, had been in talks with NTT executives for years, he said. Advertisement Underscoring the stakes for the country, its sovereign wealth fund GIC bought more than US$100 million worth of units as a cornerstone investor, making it the real estate investment trust's second-biggest shareholder. It was the first time GIC provided such support to a local IPO, notwithstanding the 2010 jumbo listing of its overseas logistics unit, based on Bloomberg checks.
