Stocks to watch: Mapletree Logistics Trust, Lendlease Global Commercial Reit, AEM

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Mar 23):

Mapletree Logistics Trust : The trust has entered into an agreement to acquire a Grade A warehouse in Bhiwandi, Mumbai, for 3.89 billion rupees (S$53.6 million), the manager announced on Saturday. The transaction marks the trust’s first expansion into the Mumbai logistics market. Shares of MLT ended at S$1.21, S$0.01 or 0.8 per cent higher on Friday.

Lendlease Global Commercial Reit : The Reit’s preferential offering of 352.4 million units was only 62.2 per cent subscribed, said its manager on Monday. The remaining 37.8 per cent of the offering, representing roughly 133.2 million unsubscribed units, will now fall to the joint underwriters: DBS, OCBC and UOB. At the issue price of S$0.558 per unit, the underwriters will have to absorb around S$74.3 million worth of stock. The new units will commence trading on Thursday, raising around S$196.6 million in total. Units of the Reit rose 1.8 per cent to close S$0.01 higher at S$0.575 on Friday.

AEM : The semiconductor equipment maker has partnered ASE Technology to develop “disruptive test solutions” for artificial intelligence and high-performance computing markets. To support this collaboration, an ASE subsidiary is investing about S$12 million in AEM through a private placement of 3.35 million shares priced at S$3.591 each. Shares of AEM closed 8.5 per cent or S$0.32 higher at S$4.10 on Friday, before the news.