Singaporean shipyard group Sembcorp Marine plans to raise SGD 2.1bn ($1.5bn) in a move that will see it spin off from parent Sembcorp Industries.
The effort, which involves a proposed renounceable rights issue, could pave the way for Singpore sovereign wealth fund Temasek Holdings to conduct a full takeover.
Senior managers from the three companies said on Monday that Sembcorp Marine will issue five rights Sembcorp Marine share held, at a price of SGD 0.20
