Singapore Stocks to Watch: IReit Global, Clearbridge Health

Tiger Newspress2023-06-01

The following companies saw new developments that may affect the trading of their securities on Thursday (Jun 1):

IReit Global (UD1U): IReit Global is planning to acquire a portfolio of 17 retail properties in France for about 76.8 million euros (S$112.2 million) through its wholly-owned subsidiary.

To partially fund the deal, the Europe-focused real estate investment trust (Reit) plans to launch a preferential offering to be announced at a later date, said its manager on Thursday (Jun 1).

The total acquisition cost, including fees and expenses, is about 90.9 million euros.

Clearbridge Health (1H3): Medical tech company Clearbridge Health’s executive director and chief executive Jeremy Yee is among the defendants named in a civil suit filed by the shareholder of a former subsidiary, the company said on Thursday (Jun 1).

The plaintiff, Kreasi Putra Nusantara (KPN), is an Indonesian biotechnology company that owns a stake in former Clearbridge Health subsidiary Indo Genesis Medika (IGM).

Clearbridge Health understands that the court summons relate to an extraordinary general meeting (EGM) of IGM held on Dec 12, 2022, as well as an invitation sent to effect the EGM.

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