Keppel's stake in Seatrium came about after it completed the merger of its offshore and marine unit with then Sembcorp Marine in Feb 2023. Keppel, which ended up with 54% in the new entity, distributed 49% to its own sharheolders, and kept 5% which it then sold down gradually.
Keppel has fully sold its residual Seatrium shares on April 1 at a weighted average of $2.52 each, pocketing some $429 million, the company says on April 11.
In addition, Keppel received another $1 million in Seatrium dividends, the company says on April 11, in response to shareholders' questions ahead of its AGM on April 17, when former DBS CEO Piyush Gupta will take over as the chairman.
