Sembmarine a candidate for STI inclusion as market cap rises post merger

MAINBOARD-LISTED Sembcorp Marine, which is seeking to be renamed Seatrium, is now among the largest stocks listed on the Singapore Exchange (SGX).

Its increased market cap of S$8.2 billion makes it the largest counter on the Straits Times Index (STI) reserve list, which means it has a chance of being added to the benchmark index – depending on how it and other index counters trade in the coming months.

In February, Sembmarine acquired Keppel Offshore & Marine from Keppel Corp. The deal was settled through the issue of new shares that raised the total issued share capital of Sembmarine to 68.2 billion shares from 31.4 billion shares.