SembCorp Industries Ltd *Official* (SGX: U96)

[arctician]

4pm????????

you go and check the share price of both 2d ago from 4pm-5pm, Sembmarine suddenly massive buy up and price surge

 

[compro_1975]

Oh i tot 4pm lift halt.... aiyo.. means monday might b halted too? If another announcement at 5pm means damm jialat need 2 days to digest?

 

[arctician]

Oh i tot 4pm lift halt.... aiyo.. means monday might b halted too? If another announcement at 5pm means damm jialat need 2 days to digest?

i think might be announced today and monday may lift halt, apparently 2d ago got insider leak so they have no choice to halt. Though i hope for divestment to temasek but i think chances of privatization higher

 

[compro_1975]

i think might be announced today and monday may lift halt, apparently 2d ago got insider leak so they have no choice to halt. Though i hope for divestment to temasek but i think chances of privatization higher

U hopw just divest whole sci or just smm?

 

[arctician]

U hopw just divest whole sci or just smm?

best case scenario is they divest SMM to temasek, or privatize SCI at a premium

 

[lzydata]

Still no announcement.

Halted shares of Sembcorp Marine, parent in focus in Singapore

https://www.businesstimes.com.sg/co...-sembcorp-marine-parent-in-focus-in-singapore

 

[Surrealz]

https://www.channelnewsasia.com/news/business/sembcorp-marine-halted-shares-parent-company-12809122

SINGAPORE: Shares in Sembcorp Marine and Sembcorp Industries remained halted for a second day on Friday (Jun 5), prompting speculation among some analysts about a potential deal between the Singapore rigbuilder and its parent company.

"Given the concurrent nature of the trading halts, we believe that any announcement would involve a form of transaction between the two companies," analysts at Citi said in a report.

Both Sembcorp Marine and Sembcorp Industries declined to comment.

Sembcorp Marine's shares closed up 17 per cent at S$0.725 on Wednesday, giving the company a market value of S$1.78 billion. The shares have lost 36 per cent this year.

State investor Temasek Holdings-backed Sembcorp Industries owns a 61 per cent stake in loss-making Sembcorp Marine.

It has been viewed as a privatisation or divestment target for the last few years due to a prolonged downturn in the rig-building sector.

Temasek's bid last year to buy control of conglomerate Keppel Corp, which owns an offshore and marine unit, boosted expectations of consolidation in the local rig building sector.

Earlier on Friday, Sembcorp Marine said its Brazilian subsidiary had entered into a revolving facility agreement for up to S$500 million.

A condition in the agreement says terms would have to be reviewed if Sembcorp Industries ceased to be the company's majority shareholder.

 

[compro_1975]

Neh de till now still halted

 

[arctician]

news out ..read first line heart drop, but read 2nd line think everyone happy

Right issue
SEMBCORP INDUSTRIES AND SEMBCORP MARINE PROPOSE S$2.1 BILLION RECAPITALISATION OF SEMBCORP MARINE, AND DEMERGER TO FOCUS COMPANIES ON THEIR GROWTH SEGMENTS
-
S$2.1 billion renounceable Rights Issue by Sembcorp Marine will strengthen its cash position and balance sheet
o Sembcorp Marine will undertake a 5-for-1 Rights Issue (5 Rights Shares
for every 1 Sembcorp Marine share held) at a Rights Issue Price of
S$0.20 per share
o Rights Price represents a 31.0% discount to the TERP1 based on 5-day2
VWAP3 of S$0.74
o Sembcorp Industries has undertaken to subscribe for up to S$1.5 billion
of Rights Shares by setting off the S$1.5 billion outstanding under its Subordinated Loan extended to Sembcorp Marine. Temasek has agreed to sub-underwrite the remaining S$0.6 billion
Proposed demerger of Sembcorp Industries and Sembcorp Marine via a distribution in specie of Sembcorp Industries&rsquo stake in the recapitalised Sembcorp Marine to Sembcorp Industries shareholders as dividends
o Sembcorp Industries shareholders to receive between 427 and 491 Sembcorp Marine shares for every 100 Sembcorp Industries shares owned, with no cash outlay required
-
Singapore, 8 June, 2020 &ndash Sembcorp Industries and Sembcorp Marine are today proposing the recapitalisation of Sembcorp Marine through a S$2.1 billion renounceable rights issue (the &ldquo Rights Issue&rdquo ), followed by a proposed demerger of the two companies via a distribution in specie (the &ldquo Proposed Distribution&rdquo ) of Sembcorp Industries&rsquo stake in the recapitalised Sembcorp Marine to Sembcorp Industries shareholders.

https://links.sgx.com/FileOpen/SCI%20AND%20SCM%20PROPOSE%20SGD2.1BN%20SCM%20RECAPITALISATION%20AND%20DEMERGER%20TO%20FOCUS%20COMPANIES%20ON%20GROWTH%20SEGMENTS.ashx?App=Announcement&FileID=616790

 

[SpeedingBullet]

yay free money!

 

[durain]

Lol. Sembcorp shares best deal imo. Do nothing get free sembmarine shares, and get to keep the mother shares(which is currently profitable due to renewable energy) which can move freely without the marine shares dragging the price down

 

[Pocoyoz]

sci Share price will drop?

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[surfman]

Wah... Time to hoot Sci shares?

Aft dumping the scm shares which were drag on the value maybe share price will finally go up...

 

[durain]

sci Share price will drop?

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Wont go up much, but you got sembmarine investors and temasek pumping money into your weakest sector,and following that you get the decoupling of semb marine which gives you shares in a company that's in a better financial position. i'm of the opinion that it will go up by abit due to the cash injection from the rights issue and temasek. Of course if rights issue poorly subscribed then suck thumb, the mother shares need to tank for SCM.

 

[durain]

Wah... Time to hoot Sci shares?

Aft dumping the scm shares which were drag on the value maybe share price will finally go up...

About time, now SCM can be a pure utilities play without having the stock affected by oil prices all the time.

 

[Pocoyoz]

Moi bought through fsm. Will auto issue scm share to my account?

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[limster]

o Sembcorp Industries shareholders to receive between 427 and 491 Sembcorp Marine shares for every 100 Sembcorp Industries shares owned, with no cash outlay required

ok I better calculate my holdings and make sure I dont get odd lots, or are they going to let us sell odd lots commission free....

 

[shuvit]

That's why last week SCM shoot up

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[durain]

Moi bought through fsm. Will auto issue scm share to my account?

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Shd be auto since you only own SCI, no need participate in the rights issue. But do browse their FAQ on corporate action to be sure.

 

[bakuten]

wah 100(SCI)@$1.53:400+(SCM) valued at 0.20 each.

$153 get $80+? wah
doesnt that mean could shoot from $1.53 => $2.35 - $2.60?

any announcement of cut-off date?
or is it locked in with immediate effect already?