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Hot stock: Keppel climbs as much as 21.3% as shares trade ex-distribution; Sembmarine falls

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Vivienne Tay

Vivienne Tay

Published Thu, Feb 23, 2023 · 11:13 AM
    • The completion of the merger of Keppel Offshore & Marine and Sembmarine is fast approaching.
    • The completion of the merger of Keppel Offshore & Marine and Sembmarine is fast approaching. PHOTO: KEPPEL CORP

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    KEPPEL Corporation jumped as much as 21.3 per cent during morning trade on Thursday (Feb 23), after its shares started trading on an ex-distribution basis.

    This meant those who buy the stock from that date will no longer be entitled to the distribution in specie of 19.1 Sembcorp Marine (Sembmarine) shares per Keppel share held.

    Keppel’s counter was trading as much as S$1.019 higher at S$5.80 as at 9.44 am, which is 21.3 per cent higher than its adjusted closing price of S$4.781 on Wednesday. By 10.33 am, Keppel’s shares were up 18 per cent at S$5.64, with 12.9 million shares changing hands.

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