Wednesday, November 26, 2014

Market News In 2 Minutes @ 26th November 2014

Market News in 2 minutes As stock investors (even though a small one), it is important to keep abreast with the latest financial and market news. Since I am in it, I thought it might be worthwhile to share it out with my readers too.

Hence, I started this "Market News In 2 Minutes" series.

Following are the "Market News In 2 Minutes" for today :

1. Sapphire Corporation (NF1) - Proposed the acquisition and further subscription of shares in Ranken Infrastructure for an aggregate consideration of Rmb360.4 million (approximately $75.9 million). The acquisition is in line with the company’s plan of diversifying and exiting the steel business. The company intends to finance the acquisition by cash and in the form of a private placement to the vendor. (source : Shares Investment)

2. Singapore Kitchen Equipment (5WG) - Proposed the disposal of a property located at No. 1 Commonwealth Lane for $730,000. Valued at $770,000. Net proceeds from the disposal will be deployed as general working capital requirements. (source : Shares Investment)

3. Yuexiu Property Company (G10) - Acquired a land parcel measuring 0.6 million square metres in total gross floor area (including underground) for Rmb6.5 billion. Located in the city center of Guangzhou, China. The land parcel is expected to be developed for residential use. (source : Shares Investment)

4. IPO : Keppel DC REIT - A trust that will be backed by data centre properties, is seeking to raise as much as $512 million from its Singapore IPO. The trust plans to offer units at 90 to 93 cents and it intends to offer a dividend yield of as much as 7.1% for the 2015 fiscal year. At US$393 millions ($511.79 million), Keppel DC REIT would be second-biggest IPO in Singapore this year. It aims to start taking orders from investors tomorrow and begin trading on 12th Dec. (source : The Edge Singapore)


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