Tuesday, November 20, 2012

Nov 20: Olam, UOB, NeraTel, Noble

The ST index rose 5.30 points to 2,950.93 on a volume of 1.52 billion shares on Monday. There were 221 advances against 170 losers by the close of trading. Here are some stocks and factors to watch:

Commodities firm Olam International requested for a halt in the trading of its shares "pending clarification".

United Overseas Bank announced it has entered a sale and purchase agreement through its wholly-owned subsidiary, UOB Asset Management (UOBAM) to acquire all the shares in ING Funds (Thailand) Company at 10 million euros ($16 million).

Nera Telecommunications said The Northstar Group (Northstar) has agreed to buy a controlling 50.05% stake in the company at $0.49 a share from Eltek ASA. Northstar will then launch a mandatory general offer for all the shares it does not own at the same price of $0.49 a share. This values the whole of NeraTel at about $177.3 million, said the company.

International grains exporter Noble Group plans to build a soy-crushing plant in Paraguay, the world's No. 4 exporter of the oilseed, an industry group in the South American country said.


 

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