Stocks to watch: UOB, Sembcorp, CICT, First Sponsor, Advanced Systems Automation, Moneymax

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jan 15):

UOB : UOB has priced S$850 million in perpetual capital securities at 3 per cent under the bank’s US$30 billion Global Medium Term Note Programme. The issue date is expected to be Jan 21. The securities are first callable in 2033. Shares of UOB ended at S$36.51 on Wednesday, S$0.32 or 0.9 per cent higher before the announcement.

Sembcorp: The company will seek shareholder approval for its acquisition of Alinta Energy, it said on Thursday. The extraordinary general meeting will be held on Jan 30 to vote on the acquisition of Australia’s fourth-largest utilities provider from Hong Kong-based Chow Tai Fook Enterprises. The estimated purchase price for the deal is A$5.6 billion (S$4.8 billion), which will be paid in cash through bridge and working capital facilities. The transaction is expected to be earnings accretive but will cause Sembcorp to miss its 2028 decarbonisation targets due to the integration of Alinta’s coal assets. Shares of Sembcorp closed 0.2 per cent or S$0.01 lower at S$6.01 on Wednesday.