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

Felicia Tan
Felicia Tan6/24/2021 06:06 PM GMT+08  • 5 min read
SembMarine seeks to raise $1.5 bil through rights issue; enters into MOU with Keppel O&M on potential merger
If successfully completed, the merger is expected to be a listed entity and accretive to Keppel Corporation’s earnings.
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Sembcorp Marine (SembMarine) has announced that intends to take a renounceable underwritten rights issue to raise gross proceeds of some $1.5 billion with an issue price of 8 cents per rights share.

The company will issue up to 18.83 billion new shares in its capital on the basis of three new shares for two existing shares held.

The rights issue is expected to be completed in the third quarter of 2021.

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