SembMarine, Sembcorp in active trade on privatisation rumours

Singapore

SEMBCORP Marine (SembMarine) and its parent company Sembcorp Industries were in active trading on Wednesday following rumours of a full takeover by the parent firm or an injection of funds. There is also speculation that a merger with Keppel Corp may eventually take place.

SembMarine rose as much as 7 per cent intraday on Wednesday before giving up some of its gains to close at S$1.485, up 0.3 per cent from Tuesday's closing; while Sembcorp Industries closed 9.4 per cent lower at S$2.30. Keppel tanked 6.8 per cent on Wednesday to S$4.83.