Stocks to watch: UOB, ST Engineering, Sembcorp, Thomson Medical
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Aug 27):
The Business Times reports that UOB has priced a €1 billion dual-tranche covered bond transaction across 2-year and 5-year tenors, with order books peaking at over €4.25 billion. This marks the first offering of its kind by an Asian issuer, resulting in "exceptionally strong" demand and allowing the bank to achieve highly attractive funding costs.
ST Engineering secured a S$750 million turnkey rail services contract in Taiwan for the extension of a metro line, a seven-year project set to begin in the fourth quarter of the current year. Sembcorp Industries' Indian renewables unit has filed draft prospectus papers for an initial public offering in Mumbai, which could raise as much as US$500 million.
Thomson Medical reported a net loss of S$19.5 million for its second half ended June 30, down from a net loss of S$34.7 million in the previous corresponding period, primarily due to a lower impairment loss on goodwill arising from its acquisition of Far East Medical Vietnam.
Brief written by urgent.news from The Business Times - Companies & Markets's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
