SembMarine has, on Sept 27, announced that it has used $430.0 million of the net proceeds raised from its rights issue in 2021 to repay its loan facility.
See: Sembcorp Marine receives approval from shareholders on $1.5 bil rights issue
The company, on Aug 23, received approval from the majority of its shareholders to raise $1.5 billion through a renounceable underwritten rights issue with an issue price of 8 cents per rights share.
Startree Investments, a Temasek subsidiary, announced a mandatory conditional general cash offer to acquire the remaining shares in SembMarine it does not own, at 8 cents per share on Sept 22.
See also: Temasek announces general offer for Sembcorp Marine at 8 cents per share in cash
Shares in SembMarine closed flat at 8.1 cents on Sept 24.
See also: Send Notif Breaking NewsQA Foreground
Photo: Bloomberg
