The following companies saw new developments that may affect trading of their securities on Tuesday (Sep 19):
Nio announced plans to issue $1 billion in convertible senior notes to repurchase existing debt securities and strengthen its balance sheet, causing its shares to fall in after-hours trading. It plans to issue $500 million in aggregate principal amount of convertible senior notes due 2029 and $500 million in convertible senior notes due 2030, according to an announcement.
Singapore Post (SingPost) has increased its rates for standard regular mail to 51 cents, 20 cents higher than the current rate of 31 cents. This is to reflect the escalating costs of maintaining the postal service. The group, on July 6, said that it will work with the Infocomm Media Development Authority (IMDA) to review its costs and operating model to ensure the sustainability of its postal services.
Creative Technology announced on Monday (Sep 18) the appointment of Sim Li Ern as a non-executive, non-independent director. Aged 44, he is a nephew of the late Sim Wong Hoo, Creative’s founding chairman and chief executive officer (CEO) who died suddenly on Jan 4, aged 67. Sim Li Ern is listed as an administrator of his late uncle’s estate. According to a bourse filing, he has a direct interest of 22,750 shares in the company, and an interest of 23,270,652 shares of the company held by his uncle’s estate.
