Stocks to watch: CDL, IReit, Civmec
Singapore stocks CDL, IReit Global, and Civmec saw developments affecting trading. CDL announced a 100% take-up rate for its preference share buyback. IReit Global faces an S$12.5 million claim from former tenant DRV regarding Berlin Campus assets, with legal defenses underway. Civmec reported a record order book of S$1.5 billion extending to FY2028 due to new contracts and extensions.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (June 5):
City Developments Ltd (CDL) : CDL announced on Friday a 100 per cent take-up rate for the buyback offer for 24,120,733 preference shares. Shares of CDL ended at S$8.39, S$0.01 or 0.1 per cent lower on Friday, before the announcement.
IReit Global : It announced on Thursday that its wholly owned subsidiaries holding the Berlin Campus were served with a statement of claim on May 19, by former main tenant DRV. DRV is seeking a repayment of about 8.4 million euros (S$12.5 million) plus interest. In response, IReit’s legal counsel filed a common notice of defence with the Berlin regional court on May 20, and is currently requesting an extension to Jul 16 to submit their formal statement of defence. Shares of IReit Global ended flat on Thursday at S$0.23.
Civmec : The construction and engineering services provider Civmec's order book reached a new record of S$1.5 billion amid new contracts, panel agreement extensions and orders. These order book wins span Civmec's resources, infrastructure, energy and maintenance activities and are set to be delivered across FY2027 and FY2028, said the mainboard-listed firm on Thursday. Civmec shares fell 1.3 per cent or S$0.02 to S$1.54, before the news.
