Sembmarine 'deliberately priced' rights issue at affordable level

Singapore

SEMBCORP Marine's (Sembmarine) latest rights issue was "deliberately priced" at an affordable level to encourage subscription by all shareholders, company executives said in an interview with The Business Times on Friday. Subscribing for the rights shares would allow shareholders to lower their average costs, they added.

"You'll find that there are actually different segments of shareholders investing in the company at different price points," said Eric Ang, Sembarine's lead independent director. "(The cash call) averages down the investment for all shareholders."