Hot stock: Sembmarine rises 4.3% after bagging 6 billion euros in contracts

SHARES of Sembcorp Marine (Sembmarine) rose as much as 4.3 per cent to hit a high of S$0.12 on Friday (Mar 31). This came after a day after the company announced that its consortium had secured contracts worth six billion euros (S$8.67 billion) for offshore renewables projects.

Sembmarine was the day’s top-traded stock by volume, with 784.8 million shares changing hands. Its share price eased slightly at the market close to S$0.119, up 3.5 per cent or S$0.004. No married deals were recorded, as indicated by ShareInvestor data.

As announced on Thursday, Sembmarine had secured three contracts to supply high-voltage, direct-current electrical transmission systems for three mega offshore wind-farm projects for Dutch transmission system operator TenneT.