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Sembcorp to list India energy unit on BSE, NSE after strategic review; reports 84.6% fall in 4Q earnings to $22.8 mil

PC Lee
PC Lee2/23/2018 07:24 AM GMT+08  • 3 min read
Sembcorp to list India energy unit on BSE, NSE after strategic review; reports 84.6% fall in 4Q earnings to $22.8 mil
SINGAPORE (Feb 23): Sembcorp Industries says it has started the process for an initial public offering of Sembcorp Energy India on BSE and the National Stock Exchange of India, with the filing of a draft prospectus.
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SINGAPORE (Feb 23): Sembcorp Industries says it has started the process for an initial public offering of Sembcorp Energy India on BSE and the National Stock Exchange of India, with the filing of a draft prospectus.

The announcement was made by Sembcorp after the completion of its strategic review which will reposition the utilities business as an integrated energy player and targets to double renewables portfolio.

The group also plans to divest a number of peripheral utilities assets. Over the next two years, this is expected to deliver estimated cash proceeds of up to $0.5 billion, in additional to potential proceeds from the proposed IPO.

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