Market highlights

1 Serrano said its trading halt will be converted to a trading suspension of the shares with immediate effect. It had been talking to creditors about liabilities such as hire purchase and professional fees but there was no resolution.

2 Businessman Sam Goi raised his stake further in Tung Lok Restaurants. He purchased 25,000 shares at 12.1 cents each. His deemed and direct stake is now 18.62 per cent.

3 SW International said it owned 85.52 per cent of Top Global as at 5pm on June 15. A privatisation offer will close at 5.30pm on June 19.

4 SGX-listed The Trendlines Group has completed the sale of BioSight. Net proceeds after tax was US$1 million (S$1.4 million). This will strengthen the group's cash position. BioSight has developed a pipeline of cancer drugs.

5 Olam International has issued US$170 million (S$235 million) worth of five-year fixed-rate notes in a private placement to eight investors, taking its total issuance in the US market to US$345 million. The coupon is 3.73 per cent.

A version of this article appeared in the print edition of The Straits Times on June 17, 2017, with the headline 'Market highlights'. Print Edition | Subscribe