Sembmarine shareholders seek answers from management on rights issue, outlook
They also ask how the firm would ensure that those who bought in at 'higher prices' would not be shortchanged
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SHAREHOLDERS of Sembcorp Marine (Sembmarine) showed concern about the pricing of the rig builder's proposed rights issue, and wanted more details about how management plans to turn the company around and make it worthwhile for shareholders to support the issue.
In a virtual dialogue session organised by the Securities Investors Association (Singapore) (Sias), shareholders asked the company to explain how it would ensure that those who bought in at "higher prices" would not be shortchanged. They also asked executives to justify the move to price the rights at "a low value" of eight Singapore cents.
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