[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
(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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