Sembmarine shares plunge after news of rights issue while Keppel shares rise on potential deal
Analysts say Keppel's share price may not have adequately priced in value of O&M business if deal with Sembmarine is sealed
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SEMBCORP Marine (Sembmarine) shares plunged while Keppel Corp's shares climbed on Friday after both companies inked a memorandum of understanding to explore a merger between the former and Keppel Offshore & Marine (Keppel O&M).
Sembmarine also announced that it was planning an additional S$1.5 billion rights issue in a bourse filing on Thursday evening.
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