As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

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Value Investing
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Wednesday, 21 August 2013

Sembcorp joint venture to launch US$135m IPO in Oman

[SINGAPORE] Singapore's Sembcorp Industries Ltd said on Wednesday a joint venture that owns and operates a US$1 billion power and water plant in Oman will launch an initial public offering next week to raise around S$172.2 million (US$135 million).

(CW8888: Taking back 13.5% of the investment through this IPO

EI: Expected $36m and revaluation gain of $73m. Total = $109m)



Sembcorp Salalah Power and Water Co will offer 33.4 million existing ordinary shares, representing 35 per cent of its issued share capital, at 1.59 Omani rial or around S$5.17 per share. The IPO is set to be launched on the Muscat Securities Market on Aug 28.

Sembcorp Utilities, a unit of Sembcorp Industries, currently has a 60 per cent stake in the joint venture. Oman Investment Corp (OIC) owns 35 per cent and Bahrain-based BDCC Investment Company (BDCC) holds 5 per cent.

After the listing, Sembcorp will hold a 40 per cent stake, while OIC will have 21.9 per cent and BDCC 3.1 per cent. - Reuters

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