With the approval, OIR’s revised fair value of 18.5 cents is based on a price-to-book value of 1.5x, which takes into account the stock’s historical valuations.
OCBC Investment Research (OIR) has raised its target price for Sembcorp Marine (SGX:S51
) from 12 cents to 18.5 cents, following shareholders’ approval to merge with Keppel Corporation’s (SGX:BN4) offshore and marine unit.
At an EGM on Feb 16, Sembmarine shareholders voted overwhelmingly for the proposed “combination”.
