SINGAPORE, Dec 19 (Reuters) - JES International may be in focus on Wednesday as it makes its debut on the Singapore Exchange. The firm raised S$250 million during its initial public offering by selling 373.1 million shares at S$0.67 apiece.
U.S. stocks rose on Tuesday as investors bought beaten-down shares of technology heavyweights such as IBM and Microsoft Corp on hopes that the tech sector would weather the impact of the credit crisis.
Stocks and factors to watch.
- Chinese shipbuilder JES International will start trade at 9 a.m. following an IPO that was approximately 2.2 times subscribed.
- Property firm GuocoLand said it has sold units in a condominium to a fund managed by Kuwait Finance House (Malaysia) for S$818.4 million ($561 million).
- Abterra, a commodities firm, said it has acquired 22.8 percent of a Chinese mining company for around S$77.8 million ($53 million) to strengthen its supply chain.
- Conglomerate Vita Holdings said an agreement with a Vietnamese company to build a hotel in Hanoi will not go through due to the non-fulfilment of certain conditions.
- Societe General's China fund business said it has won approval to launch a fund to mainly invest in overseas-listed China-related equities under China's Qualified Domestic Institutional Investor (QDII) scheme.
- More Chinese offshore and marine companies may list in Singapore after the successful initial public offering of Chinese shipbuilder Yangzijiang Shipbuilding according to UBS head of investment banking for Singapore and Malaysia, the Business Times reported.
- Singapore's Straits Times Index climbed 0.47 percent lower to 3,369.31 points on Tuesday.
- The Dow Jones Industrial Average rose 0.50 percent to end at 13,232.47. The Nasdaq Composite Index gained 0.84 percent to 2,596.03.
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