Read? Sembmarine to raise S$2.1b, demerge from parent Sembcorp
The proposed demerger will be done through a distribution in specie of Sembcorp’s stake in the recapitalised Sembmarine to Sembcorp shareholders as dividends. Shareholders of Sembcorp are set to receive between 427 and 491 Sembmarine shares for every 100 Sembcorp shares without any cash outlay.
Good news?
Finally, SCI is no more smelly and oily stock.
O&G is smelly!
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Essentially a bailout of SCM by SCI & Temasek (since they're the majority shareholders). SCI will be leaner. Probably some restructuring & streamlining of Kep in the near future too.
ReplyDeleteI guess SG wants to have Kep, SCI, SCM to eventually focus & not overlap in their various industries.
Place bet on kep for fun in future. See plenty of fun in sembcorp today. :-)
DeleteUp 37% on 90M shares changed hand. steady!
ReplyDeleteThe moral of story is anything can happen overnight in the market.
Shortists may have learnt the same lesson from Muddy Water shorting Olam. Don't play play with TemaSICK as TemaSICK can became TemaSURGE hor!
Buyers today so shiok while sellers said heng ah we are out and no more nightmare.