Temasek trims exposure to Sembcorp Marine

Temasek raises $261 million from the sale of its entire direct stake in the Singapore rig and shipbuilding company at a tight discount, prompting a sell-off in the stock.

Temasek trims exposure to Sembcorp Marine

Temasek has raised S$327.6 million $261 million from the sale of its entire direct stake in Singapore-based rig and shipbuilder Sembcorp Marine as it continues to reshuffle its extensive portfolio.

The deal was done after the close of trading Monday and came at a discount of just 2.8%, which looked tight for the size of the deal it accounted for just 3.2% of the company but 12 days of trading volume. Indeed, there was speculation...

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