Sembmarine faces a tough week ahead
Temasek's offer for the beleaguered O&M company is due to close amid weak investor sentiment
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SEMBCORP Marine (Sembmarine) will be closely watched this week by analysts and investors as Temasek Holdings' mandatory conditional general offer at S$0.08 per share closes on Wednesday (Nov 3) at 5.30 pm.
While confidence in the beleaguered offshore and marine (O&M) company is very weak, its shares appear to be trading well below their intrinsic value.
Provenance Capital - Sembmarine's independent financial adviser (IFA) - estimates the company's net asset value (NAV) as at Jun 30 adjusted for its recent rights issue stood at S$0.1437 per share.
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