Sembcorp to lead the charge from Singapore

Government-owned Sembcorp Industries is set to become the Island State''s first international equity issuer of 2001.

The diversified group is planning to raise S$318 million $182 million at the end of this month from a 185 million new share offering, with JP Morgan as bookrunner and Nomura as co-lead. Winning the follow-on offering marks a major breakthrough for JP Morgan and represents the first deal the bank is likely to complete in Asia under the combined aegis of Jardine Fleming, Chase and JP Morgan.

The US investment bank was a natural choice...

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