Sembcorp Marine rights issue undersubscribed

Uploaded By:  Alyssa Divina Submitted By:  Staff Reporter Case Study:  No Temasek bought the remaining almost 1.03b unsubscribed rights shares. Semcorp Marine’s rights issue was undersubscribed with valid acceptances and excess applications received for only about 9.4 billion rights shares, or only 90.2% of the 10.46 billion rights shares available, according to an SGX filing. As a result, Temasek’s subsidiary Startree had to sweep in and subscribe the balance of more than 1.02 billion rights shares pursuant to the sub-underwriting agreement. read more