The shareholders of Sembcorp Marine (SembMarine) have approved the group’s proposed renounceable underwritten rights issue on Aug 23 after the group’s extraordinary general meeting (EGM) held earlier on the same day.


See: SembMarine seeks to raise $1.5 bil through rights issue; enters into MOU with Keppel O&M on potential merger


The rights issue will seek to raise gross proceeds of some $1.5 billion with an issue price of 8 cents per rights share.

Following the EGM, SembMarine announced that the resolution received an overwhelming 98.05% votes that supported the move.

As at 3.54pm, shares in SembMarine are trading flat at 10.3 cents.