SINGAPORE - The following companies saw new developments that may affect trading of their shares on Thursday (Dec 7):
First Sponsor and City Developments Limited (CDL): First Sponsor Group Limited is making its first foray into Germany in partnership with its key shareholders CDL and Tai Tak Estates Sdn Bhd to acquire the Le Meridien Frankfurt Hotel in Germany for about 85 million euros (S$135.9 million). On Thursday, the mainboard-listed firm said in a joint press release with CDL and Tai Tak that it has, through a joint venture partnership, on Wednesday entered into a sale and purchase agreement for the proposed acquisition of the hotel. The acquisition is expected to be completed in late December 2017 or early January 2018.
CapitaLand Retail China Trust (CRCT): CRCT on Thursday said that it has obtained in-principle approval from the Singapore Exchange (SGX) for the listing of new units from its upsized S$103.8 million private placement of new units at S$1.612 apiece. Some 64.4 million new units will be issued, with aggregate gross proceeds amounting to S$103.8 million. CRCT also said that the private placement has been over-subscribed and that the upsize option has been exercised in full. The new units will start trading on the SGX at 9am on Thursday.
Sembcorp Marine (SembMarine): SembMarine on Wednesday said that it has secured a US$490 million contract from Statoil Petroleum through its wholly owned subsidiary, Sembcorp Marine Rigs & Floaters. The contract involves turnkey engineering, procurement and construction of hull and living quarters for a newbuild floating production, storage and offloading vessel. This contract follows the signing of a letter of intent between the two parties, as announced on Nov 10.