[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Friday (Mar 28).
Sembcorp Industries: Its wholly owned subsidiary Sembcorp Solar Singapore has signed a 25-year renewable energy purchase agreement with Meta Platforms’ subsidiary Malkoha. Sembcorp will build, own and operate a roughly 150 megawatt-peak floating solar photovoltaic system on Kranji Reservoir to support Meta’s operations. Construction of the floating solar farm is expected to begin in the first half of 2027. Shares of Sembcorp closed 0.5 per cent or S$0.03 lower at S$6.37 on Thursday.
Nio: Chinese electric vehicle (EV) maker Nio on Thursday announced plans to raise HK$4 billion (S$688 million) through a share placement for the research and development of smart EVs. Some 136.8 million shares will be offered at HK$29.46 each – a nearly 10 per cent discount to the stock’s latest closing price of HK$32.55 on the Hong Kong bourse. Since the announcement, shares of Nio fell sharply on the New York Stock Exchange. In Singapore, the counter closed 3.2 per cent or US$0.14 lower at US$4.29 on Thursday.
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