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Market Chatter: Foundation Healthcare Eyes IPO Prospectus Filing Soon

SeaTown-backed Foundation Healthcare targets to file its initial public offering prospectus in Singapore soon, Bloomberg reported Monday, citing people familiar with the matter.The healthcare company is looking to raise over SG$500 million, taking its valuation to beyond $1 billion, the report said.Temasek-linked SeaTown has invested around SG$150 million in the Singaporean firm since 2023, the report said.Details of the IPO have not been finalized, Bloomberg reported, citing the people.Foundation Healthcare did not immediately reply to a comment request from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^STI

Asia19d ago

QMS Has 'Strong Momentum' Under Nine Entertainment Ownership, Faces 5% Downgrade to Fiscal Year 2026 Pro-Forma EBITDA Forecast, Jefferies Says

QMS had a 'strong momentum' under Nine Entertainment (ASX:NEC) ownership, but short-term impacts are driving a 5% downgrade to fiscal year 2026 pro-forma earnings before interest, taxes, depreciation, and amortization (EBITDA) forecast, according to a Monday note by Jefferies.The downgrade was driven by a weaker ad market, intentional delays of the AKL transport contract roll-out, and a weaker New Zealand dollar.However, overall, fiscal year 2026 pro-forma EBITDA is up 12% to 15% year-over-year. QMS is performing well under Nine Entertainment's ownership with strong client relationships. Jefferies believes that QMS can grow revenue by double digits in fiscal year 2027, as it is growing ahead of the market.Jefferies has a buy rating on Nine Entertainment with a raised price target of AU$1.40 per share from AU$1.30 per share previously.

ASX:NEC

Asia19d ago

KS Terminals Swings to Profit in May as Revenue Soars; Shares Rise 5%

KS Terminals (TPE:3003) posted a pretax profit of NT$63 million in May, reversing from a pretax loss of NT$66 million a year earlier, according to a Monday Taiwan Exchange filing.Shares rose nearly 5% in Tuesday's late morning trade.Pretax earnings per share came in at NT$0.40, compared with a loss per share of NT$0.42 a year earlier.Consolidated revenue amounted to NT$534 million for May, surging from NT$349 million a year earlier.For the first five months of 2026, pretax profit jumped to NT$235 million from NT$40 million a year earlier, while revenue increased to NT$2.28 billion from NT$1.75 billion, it said.

TPE:3003

Asia19d ago

Dateline Resources Says Judge Reserved Decision in Claim Brought by US1 Critical Minerals; Shares Surge 19%

Dateline Resources (ASX:DTR) said the Australian Federal Court judge presiding over US1 Critical Minerals' (ASX:USC) claim against Dateline and its CEO has reserved his decision on the case, according to a Tuesday filing with the Australian bourse.US1 Critical Minerals is attempting to procure the transfer of 252 potential rare earth elements tenements in the US, and a final hearing on the matter concluded on Tuesday.The judge did not provide any timetable for the delivery of a verdict, Dateline said, adding that it has "voluntarily agreed to maintain the status quo in relation to the 252 tenements" until a judgement is issued.Dateline shares surged 19% in recent Tuesday trade.

ASX:DTRASX:USC

Asia19d ago

Elite UK REIT to Acquire Five Government-Leased UK Assets

Elite UK REIT (SGX:MXNU) agreed to acquire five UK government-leased properties for 31.9 million pounds, according to a Tuesday filing with the Singapore Exchange.The five properties have a combined area of 364,048 square feet.The deal, conducted through its subsidiary, Elite Kist, will expand the trust's portfolio weighted average lease expiry to 7.6 years.The REIT will fund the acquisitions through a mix of bank borrowings and a private placement exercise, the filing added.

SGX:MXNU

Asia19d ago

Market Chatter: SoftBank-Backed Patsnap Files for Dual IPO in Hong Kong, Singapore

Intellectual-property data provider Patsnap, backed by SoftBank (TYO:9434) and Tencent (HKG:0700), has confidentially filed for a dual initial public offering in Hong Kong and Singapore, Bloomberg News reported Monday, citing people familiar with the matter.The company has submitted a draft IPO registration seeking to raise $300 million to $400 million at a valuation of more than $2 billion, the people said. Deliberations are ongoing and details such as listing size and timing remain under discussion, they added.Headquartered in Singapore, Patsnap provides IP data and analytics tools to more than 15,000 companies.Patsnap did not respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang Seng^STIHKG:0700TYO:9434

Asia19d ago

Huafeng Tech Raises 969 Million Yuan Through Private Placement

Sichuan Huafeng Technology (SHA:688629) raised net proceeds of 968.8 million yuan through a private placement of shares, according to a Shanghai bourse filing on Tuesday.The electrical connectors manufacturer placed 7,262,135 newly issued shares to 15 investors for 133.90 yuan apiece. The shares represent 1.55% of the company's total share capital after the placement.The company's shares slipped 1% during the morning trade.

SHA:688629

Asia19d ago

Aussie Broadband Priced for Residential Slowdown But Not for Fiscal 2028 Execution, Jarden Says

Aussie Broadband's (ASX:ABB) challenging subscriber growth environment is now reflected in its share price, but a potentially successful execution of the company's fiscal 2028 ambitions is not currently priced in, Jarden said in a Monday note.The company's core subscriber update disappointed relative to market forecasts as momentum slowed, although the results came in just ahead of Jarden's previous estimates.The risk now skews to the upside should the company deliver on its fiscal 2028 target for underlying earning before interest, taxes, depreciation, and amortization of AU$270 million. Jarden's forecast sits at AU$243 million, around 10% below the company's goal.The investment firm said it is increasingly inclined to look through the near-term subscriber softness toward the fiscal 2028 target, with the delivery of a roughly AU$20 million re-platforming program and a rebased but stable core residential book being among the key factors.Aussie Broadband also confirmed the completion of a suite of strategic transactions, including the AGL Telco and Nexgen acquisitions."In our view, the four transactions in six months have re-shaped the equity story from a predominantly organic residential challenger into a larger, multichannel scale platform," Jarden said.It maintained a neutral rating on the company with a price target of AU$5.50.Aussie Broadband shares fell 2% in recent Tuesday trade.

ASX:ABB

Asia19d ago

Chong Kun Dang Pharmaceutical to Invest KRW392.5 Billion in Biopharmaceutical R&D Center

Chong Kun Dang Pharmaceutical (KRX:185750) plans to invest a total of 392.5 billion won to build a research and demonstration center for biopharmaceutical research and development in Baegot-dong, Siheung-si, according to a Tuesday filing with the Korea Exchange.The investment will be made from June 11, 2026, to Aug. 31, 2028.Shares of Chong Kun Dang Pharmaceutical rose more than 2% in recent trade.

KRX:185750

Asia19d ago

Annica Holdings Amends Rights Issue Offer Information; Shares Down 3%

Annica Holdings (SGX:JFQ) made changes to its rights issue offer information after its non-executive director and substantial shareholder, Lim In Chong, was treated as a foreign shareholder for a portion of his shares.Shares of the oil and gas services company were down over 3% in Tuesday trading.Following the reduction of his provisional allotment, a shortfall of 11.1 million rights shares was created from his pro rata entitlement of 11.2 million shares, since he held shares through a CDP securities account where the address was outside Singapore.He also held shares directly in the company's register of members, where the address was in Singapore.However, Chong was unable to provide CDP with a local address before the record date, due to which he received a provisional allotment of 168,069 shares instead of 11.2 million shares.To remedy the situation, Chong signed a side letter to supplement his original undertaking and committed to apply for 11.1 million excess rights shares to make up for the shortfall.

SGX:JFQ

Asia19d ago

JX Advanced Metals to Invest 120 Billion Yen to Boost InP Substrates Production; Shares Jump 19%

JX Advanced Metals (TYO:5016) plans to invest a total of 120 billion yen by fiscal 2030 to boost the production capacity for indium phosphide (InP) substrates, the company said in a Tuesday release.InP substrates are crystal materials used in optical transceivers that are crucial for large-volume data transmission.The company plans to fund the investment with proceeds from previously issued convertible bonds with stock acquisition rights, which would exclude funds allocated for the tender offer of its own shares, the release said.Shares of the high-tech materials and semiconductor supply chain specialist surged nearly 19% in recent trade.

TYO:5016

Asia19d ago

Cfmoto Power Issues 2.18 Billion Yuan Convertible Bonds; Shares Up 5%

Zhejiang Cfmoto Power (SHA:603129) issued convertible bonds worth 2.18 billion yuan, according to a Shanghai bourse filing on Tuesday.The convertible bonds were first offered to shareholders registered with the Shanghai branch of China Securities Depository and Clearing. The preferential allotment amounted to 1.72 billion yuan, while abandoned subscriptions in the online offering totaled 8.3 million yuan.The remaining bonds after the preferential allotment were offered to public investors through the Shanghai Stock Exchange.Huatai United Securities served as the lead underwriter of the issuance.The Chinese motorcycle manufacturer's shares rose 5% during the morning trade.

SHA:603129

Asia19d ago

Fitch Affirms ENN Energy's BBB+ Rating, Stable Outlook

Fitch Ratings affirmed ENN Energy's (HKG:2688) long-term issuer default rating, senior unsecured rating, and U.S. dollar senior unsecured notes rating at BBB+ with a stable outlook.The ratings agency said the assessment reflects ENN Energy's position as a leading city-gas distributor in China, supported by stable earnings, diversified operations, and strong financial metrics.Fitch expects ENN Energy's retail gas sales volume to grow at a low-single-digit pace through 2029 and said that higher liquefied natural gas prices resulting from the Iran conflict should have only a limited impact on margins.The agency also forecast annual growth of 8% to 10% in the company's integrated energy business through 2029 and expects EBITDA net leverage to remain at 1.3x to 1.4% over the medium term.

HKG:2688

Asia19d ago

QBE Insurance's 500 Million Euros of Tier 2 Subordinated Securities Assigned 'BBB+' Rating by Fitch

QBE Insurance's (ASX:QBE) 500 million euros in tier 2 subordinated securities have been assigned a "BBB+" rating by Fitch Ratings, according to a Tuesday note by the ratings agency.Fitch said the subordinated notes are rated two notches below QBE's Issuer Default Rating (IDR), comprising two notches for poor baseline recoveries and zero for minimal non-performance risk, with QBE's ratings reflecting the non-life insurance group's very strong capitalization and leverage, favorable company profile and very strong financial performance and earnings.The securities have been issued through QBE's note issuance program and are its direct, unsecured, and subordinated obligations, maturing on June 17, 2037, and carrying a fixed annual coupon rate of 4.293% paid in arrears up to June 17, 2032.

ASX:QBE

Asia19d ago

Guangdong HEC Technology Unit Secures 81.7 Million Yuan Capital Injection

Guangdong HEC Technology (SHA:600673) said China Great Wall Asset Management will inject 81.7 million yuan in new registered capital into its wholly owned subsidiary, Shenzhen Dongyangguang Formed Foil.The move will reduce the company's stake in the subsidiary to 85.96% from 100%, according to a Tuesday filing with the Shanghai bourse.The funds will be used to repay financial liabilities.Shares of the electronic components manufacturer rose 1% in recent trade.

SHA:600673

Asia19d ago

a2 Milk's China Label Supply Starting to Return for Consumers, Jarden Says

a2 Milk (ASX:A2M, NZE:ATM) China label supply is starting to return for consumers, specifically across the MBS storefronts, based on the firm's customer service advice to consumer posts on social media, Jarden said in a Monday note.a2 Milk's China Label stock shortages were consistent with management expectations within its mid-April trading update. Negative cereulide test results are available to consumers to ensure trust in the product.Jarden noted residual uncertainty on residual tail risk of product recall and/or supply chain issues, and catch-up progress raising the downside risk to estimates for the fiscal 2026 second half.The investment firm retained its neutral rating on A2 Milk with a price target of of NZ$7.36 per share.

ASX:A2MNZE:ATM

Asia19d ago

Global Invacom to Raise SG$5 Million for Satellite Technology Expansion; Shares Plunge 15%

Global Invacom (SGX:QS9) is targeting to raise up to SG$4.9 million for satellite technology expansion via a renounceable partially-underwritten rights issue of up to 140 million shares at SG$0.035 per share, according to a Monday filing with the Singapore Exchange.Shares of the communications company tumbled over 15% in Tuesday's late-morning trading.Soochow Singapore Capital Markets has already agreed to underwrite 116 million shares, while Maybank Securities has been nominated as a sub-underwriter.

SGX:QS9

Asia19d ago

Market Chatter: Hong Kong Listed Companies Group Pushes to Improve Stock Liquidity

The Chamber of Hong Kong Listed Companies is stepping up efforts to address low trading activity in many Hong Kong-listed stocks, arguing that limited liquidity is making it more difficult for companies to conduct secondary fundraising, Bloomberg News reported Monday.Chairman KC Chan said the chamber plans to work with more than 1,000 listed companies, including overseas issuers, to help broaden investor engagement and market visibility, according to the report.A newly formed advisory group within the chamber will provide support to companies pursuing fundraising activities in Hong Kong, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang Seng

Asia19d ago

Fitch Affirms ENN Natural Gas' Long-Term Foreign-Currency Issuer Default Rating at BBB

Fitch Ratings affirmed ENN Natural Gas' (SHA:600803) long-term foreign-currency issuer default rating at BBB on the benefits of stake ownership in ENN Energy (HKG:2688), strong geographic diversification, gas purchase advantages, and healthy finances.ENN Natural Gas owns a 34.26% stake in ENN Energy.Fitch expects retail gas sales volume to rise in low single digits in the 2026-2029 period after registering a 1.5% retail growth in 2025, the debt watcher said in a note Tuesday.The natural gas company expects higher margins from its platform gas sales amid the effects of the war in Iran, while ENN Energy's gas distribution division could only see mild pressure on dollar margins.ENN Natural Gas also faces greater price and volume risks compared with city-gas distribution, Fitch said.

HKG:2688SHA:600803

Asia19d ago

Market Chatter: Vision Fund Finance Chief to Leave SoftBank

SoftBank Group's (TYO:9984) investment arm Vision Fund's chief financial officer, Navneet Govil, who has been with the technology giant for around a decade, is set to leave the group, according to a Reuters report on Tuesday citing an internal memo.Alex Clavel, chief executive officer of SoftBank Investment Advisers, said in the memo that details regarding transition responsibilities will be disclosed in due course, Reuters reported.Govil, chief financial officer of SoftBank Investment Advisers, joined SoftBank in 2016 before the launch of the group's first Vision Fund.The memo described Govil as "a valuable partner across the business" as the organization navigated significant market volatility and transformation.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:9984

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