- Approval obtained from shareholders for proposed combination.
- Opportunities ahead but keep in mind risks as well.
- Raise fair value estimate of Sembcorp Marine to S$0.185.
Approval obtained from Sembcorp Marine shareholders for proposed combination
- - Read this at SGinvestors.io -
- Held this morning at 11am, the news was broken by a Business Times report at 12.30pm mentioning that more than 95% of Sembcorp Marine shareholders approved of the merger.
Opportunities ahead but keep in mind risks as well
- - Read this at SGinvestors.io -
- cost inflation issues, and
- customer concentration and order deferment risks.
- In the shorter term, the deal approval and possibility of index inclusions (rebalancing may drive capital flows) are likely to support the stock, but there may also be downward pressure by Keppel Corp (SGX:BN4)'s shareholders who choose to sell Sembcorp Marine stock after receiving the distribution in-specie.
Keppel to retain 5% stake
- Read more at SGinvestors.io.
