Market SnapshotSingapore stocks flattened on Thursday. STI was unchanged; UOB up 0.4%; MM2 Asia down 10%; Nio down 2%; ST Engineering down 0.5%.Stocks to WatchParagon Reit : Its manager announced that it will be holding an extraordinary general meeting on Apr 22 to vote on a proposed privatisation by way of a trust scheme of arrangement. If approved, unitholders will receive S$0.98 per unit from the offeror Times Properties. Units of Paragon Reit closed 0.5 per cent or S$0.005 higher at S$0.97 on Wednesday.mm2 Asia : Embattled cinema chain Cathay Cineplexes will cease operations at its JEM outlet in Jurong East from Thursday. Its landlord, Lendlease Global Commercial Reit, has issued a notice to terminate its lease agreement with Cathay for the premises effective from Thursday. The landlor
NIO Issues New Shares: Is It Still Worth Investing?
NIO's US pre-market shares plummeted sharply, currently down nearly 7%. The company plans to issue shares at a price of HK$29.46 per share, offering up to 118.79 million Class A ordinary shares. The company intends to use the net proceeds from the stock placement for the development of smart electric vehicle technology and new products. Other China EV companies have successfully transformed, especially Xpeng, which has risen 70% this year. Is NIO still worth investing in? Will its stock price drop below the previous low? What is your target price?
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