SG Morning Highlights | NIO Wins US$2.2 Billion Abu Dhabi Cash Boost
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Tuesday; STI up 0.03%
●17Live's precipitous share price fall may set back Singapore's tech listing ambitions
●Stocks to watch: Nio, Sembcorp, CapitaLand India Trust
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Tuesday. The $FTSE Singapore Straits Time Index(.STI.SG$ rose 0.03 per cent to 3,114.24 as at 9.11 am.
Advancers / Decliners is 83 to 68, with 102.44 million securities worth S$88.06 million changing hands.
Breaking News
17Live's precipitous share price fall may set back Singapore's tech listing ambitions
The mainboard listing of live-streaming platform operator 17Live Group, following its business combination with Vertex Technology Acquisition Corp (VTAC), came with much fanfare. The listing – two years after the special purpose acquisition company (Spac) framework was launched in Singapore – brought to the market a "new economy" company that investors have long lamented was missing from the local bourse. Instead of being well-received by investors, however, 17Live shares have been on a steady slide. The counter has now plunged to around a third of what investors paid per share at VTAC's initial public offering (IPO).
Stocks to Watch
$NIO Inc(NIO.US$: NIO, the loss-making Chinese electric vehicle (EV) maker, has scored another cash injection from the Middle East after Abu Dhabi-backed fund CYVN Holdings said it will invest US$2.2 billion. Upon completion of the deal, CYVN will own a 20.1 per cent stake in Nio, having subscribed for 294 million newly issued shares, indicated a statement from the companies on Monday (Dec 18). CYVN will also be entitled to nominate two directors to Nio's board. Nio's stock jumped as much as 9.5 per cent in US premarket trading.
$Sembcorp Ind(U96.SG$: Sembcorp Industries is partnering listed Japanese corporates Sojitz Corporation and Kyushu Electric Power to pursue potential opportunities for green ammonia production in India for export to Japan. On Monday (Dec 18), Sembcorp said its subsidiary Sembcorp Green Hydrogen signed a memorandum of understanding (MOU) with Tokyo-headquartered general trading company Sojiz and Kyushu Electric, an energy supplier based in Fukuoka. The MOU was presented at the Dec 16 Asia Zero Emission Community Leaders’ Meeting hosted by Japan’s Ministry of Economy, Trade and Industry.
$CapLand India T(CY6U.SG$: CapitaLand India Trust has acquired two industrial facilities in Mahindra World City, Chennai, for 1.8 billion rupees (S$28.7 million) – or below their total open market value of 1.9 billion rupees as at Nov 30, 2023. On Tuesday (Dec 19), Clint’s trustee-manager said it expects the transaction to be fully funded by debt and internal cash resources."This investment underscores Clint's further expansion of its portfolio to include high quality industrial and logistics assets," said Sanjeev Dasgupta, chief executive of the trustee-manager.
Share Buy Back Transactions
Source: Business Times, SG investors
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