Market highlights

1 Frasers Hospitality Reit issued a $120 million five-year bond with a coupon of 2.63 per cent.

2 Serial System's Serial I-Tech (Far East) acquired 100 per cent of Inkcarts from Mr Lim Siak Hong yesterday. Inkcarts trades and distributes computers and IT and electronic products.

3 Frasers Logistics & Industrial Trust's private placement of 78 million new units was 4.6 times subscribed. The proceeds of about $77.2 million will go in part to fund the proposed acquisition of seven properties.

4 Singtel's divestment of fibre broadband infrastructure operator NetLink NBN Trust in an initial public offering is key to maintaining its "A+" rating, Fitch Ratings said.

5 Pan Hong said 112 out of 126 homes in the first batch of Pan Hong Run Yuan Phase 2 in Zhejiang province were subscribed on the first day of launch last Sunday.

A version of this article appeared in the print edition of The Straits Times on June 29, 2017, with the headline 'Market highlights'. Print Edition | Subscribe