Singapore stocks may rise as Spain pledges cuts to meet deficit target.
Singapore shares closed higher on Thursday, with the benchmark Straits Times Index at 3,059.43, up 0.42%, or 12.75 points. About 2.1 billion shares changed hands. Gainers beat losers 269 to 153. Here are some stocks and factors to watch:
Kirin Holdings Co is expected to sell its 15% stake in Singapore's Fraser and Neave for 120 billion yen ($1.9 billion), the Nikkei business daily reported. F&N's shareholders will meet today to vote on the conglomerate's proposed sale of its 40% stake in Asia Pacific Breweries to Heineken, as well as a planned $4 billion payout through a capital reduction.
Ascott Residence Trust said on Friday it had agreed to buy the 166-unit Madison Hamburg in Germany for 37.5 million euros ($48.2 million).
Singapore offshore services firm Ezra said it had received strong support from its shareholders for the proposed distribution of Triyards Holdings shares. Shareholders will receive one Triyards share for every 10 Ezra shares. Ezra plans to list Triyards, its engineering and fabrication unit, on the Singapore Exchange in October.
Ascendas India Trust said it is planning a private placement at $0.72 per new unit to raise gross proceeds of up to $100 million.
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