Seatrium has bought back shares - the first time it is doing so as the combined entity of Sembcorp Marine and Keppel Offshore and Marine.
On June 12, the company paid 12.4 cents for 1.2 million shares.
The last time Sembcorp Marine bought back shares was a year ago. On June 15 2022, the company paid 11.6 cents each for 4.01 million shares.
Seatrium has 68.2 billion shares in total.
Seatrium's buying took place two days after Keppel Corp was said to have further reduced its stake in Seatrium.
According to a June 8 filing, on June 5, Keppel Corp sold 42 million shares for $5.16 million, which works out to 12.3 cents each.
See also: Keppel disposes of 42 mil shares in Seatrium at 12.3 cents apiece
Following the merger, Keppel Corp retained some Seatrium shares, on top of those it distributed to its shareholders in specie.
As seen in the filing, Keppel Corp has a stake of 3.37% in Seatrium, below the 5% mark in which transactions are required to be disclosed.
The disclosure happened because Temasek is concurrently the substantial shareholder of Seatrium, with a deemed stake of 38.99%, down from 39.05%, and an interest of more than 20% in Keppel Corp.
