Issue 210: Sembcorp’s India unit lodges IPO prospectus; moving past 1.5 deg C
This week in ESG: Sembcorp Green Infra to raise up to 37.5 billion rupees; landmark report says global warming will breach key threshold
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Sembcorp’s spin-off targets balance sheet
A successful listing of its Indian renewables unit is likely to strengthen Sembcorp Industries’ market value and balance sheet, even if the Singapore energy player is not selling any stake for cash.
Analysts see potential for the initial public offering (IPO) of Sembcorp Green Infra (SGI) to catalyse a higher valuation for the spun-off subsidiary, while the application of listing proceeds towards debt repayment will deleverage both companies’ balance sheets.
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