Stocks to watch: OUE, OUE C-Reit, UOB, Tuan Sing Holdings

OUE Limited, OUETwo OUE units announced a merger on Monday to create a S$6.8 billion diversified Reit. Under the proposed scheme, OUE C-Reit will pay each holder of OUE Hospitality Trust stapled security S$0.04075 cash, plus 1.3583 new OUE C-Reit units. This translates to a deal valuation of S$1.49 billion, with S$74.6 million in cash, and the balance paid by the issue of about 2.5 billion new OUE C-Reit units to OUE H-Trust holders at S$0.57 per OUE C-Reit unit. The S$0.

OUE C-Reit last traded at S$0.52 for a market cap of S$1.49 billion on Friday, while OUE H-Trust closed at S$0.735 for a market valuation of S$1.34 billion. Parent company OUE Group will continue to retain a 48.3 per cent in the enlarged Reit. OUE shares closed at S$1.77 on Friday. OUE C-Reit, OUE H-Trust and parent company OUE Ltd all called for trading halts on Monday morning before the announcements. The companies have since requested the lifting of these trading halts.

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