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Following Sembcorp Industries’ Distribution, Sembcorp Marine has Temasek as a direct and significant shareholder. Hi Alvin, I have THFR shares (6500) which approx worth only $19.5 (consider market value $0.003). ”) of Sembcorp Industries’ stake in the recapitalised Sembcorp Marine to Sembcorp Industries shareholders. I am a SCM shareholder myself and won’t be subscribing to the rights out of concern that it may become a case of throwing in good money after bad money. Do we need to do anything or just wait for the announcement. Sembcorp Marine wishes to thank Shareholders for demonstrating their support for the Company by participating in the Rights Issue, at the EGM and through the subscription process, and enabling the successful completion of the Rights Issue. Update 20 Aug 2020: Given that the rights are trading at $0.002, it might not make sense to sell if you have too little rights because you have to pay minimum commission. As an example, if I have 1000 shares of S51, and I chose not to do anything, will I still retain the 1000 shares post- rights? If i sell its at $0.002 x 15000??? Hi Alvin, If i buy the 9 lots of SCM, S51 on 21 Aug 2020. You can also subscribe to more rights than what you were given. Rights Issue. The Sembcorp Marine rights will be trading on SGX today (19 Aug 2020). This included 7,500,000,000 Rights Shares, representing approximately 72% of the 10,462,690,870 Rights Shares available under the Rights Issue, comprising the SCI Pro Rata Rights Shares and SCI Excess Rights Shares for which SCI had subscribed in accordance with the SCI Undertaking Agreement. But should I wish to acquire more SCM shares to reduce the dilution to my original SCM shares, I would wait until the SCI shareholders have received their free SCM shares and started trading before making my move. On completion of the SCI Distribution, Sembcorp Marine has ceased to be a subsidiary of SCI. An author of, Personal Finance Masterclass (Online Course). S$2.1 billion renounceable Rights Issue by Sembcorp Marine, 2. Thank you. You can pay for the 2,000 rights ($400), and SELL the remaining 3,000 rights that you want to give up. You can pay $1,000 to convert the rights to shares and you will end up with a total of 6,000 shares. Rights Issue and Demerger of Sembcorp Marine from Sembcorp Industries (难兄难弟) Temasek stocks of Sembcorp Industries SGX: U96, parent stock) and Sembcorp Marine (SGX: S51, subsidiary stock) just announce 2 bundled corporate actions of rights issue for Sembcorp Marine and then demerger from Sembcorp Industries. Sembcorp Marine (SCM) is seeking to raise S$2.1 billion by issuing 5 rights shares for every 1 share owned, at a conversion price of S$0.20 per share. Can Dollar-Cost Averaging improve your performance? Details of the valid acceptances and excess applications received for Rights Shares are as follows: Pursuant to the Sub-Underwriting Agreement, Startree, a wholly-owned subsidiary of Temasek, has subscribed for the balance of 1,028,498,258 unsubscribed Rights Shares. you will be given SCM shares in the future. If you wish to subscribe, make sure you do so within the time period! Thanks. You buy it like how you normally buy a stock. This month we have Sembcorp Marine. What do you think would most likely be the price after the rights are completed? The outstanding loan principal amount is S$1.5 billion. The transaction resulted in the demerger of Sembcorp Marine from Sembcorp Industries. SHAREHOLDERS of Sembcorp Marine (SMM) ... At the EGM, 98.76 per cent, or shareholders of some 1.4 billion shares, voted for the rights issue, while 87.72 per cent, or shareholders with a collective 121.3 million shares, voted for the whitewash resolution, the company said in a regulatory filing. For example, if Sembcorp Marine price is $0.23, the rights will usually trade around $0.03. Will Sembcorp Marine be debt-free from SCI after the demerger? Sembcorp Marine will issue a renounceable rights issue of 5 rights shares for every 1 existing Sembcorp Marine share at S$0.20. Of the net proceeds, an amount of S$1.5 billion (representing the consideration for 7,500,000,000 Rights Shares subscribed for by SCI pursuant to the SCI Undertaking Agreement) has been allocated and will be utilised to repay (by way of set off) the outstanding principal of S$1.5 billion under the Subordinated Credit Facility in accordance with the stated use and the percentage allocated as disclosed in the Offer Information Statement. Sell or subscribe for say, a mid-term investor (holding 3 to 5 years)? For information on the trading of odd lots, please refer to our 10 September 2020 announcement at, Please see our 15 September 2020 announcement at, Upon completion of the Transaction, Temasek is now a direct and significant shareholder of both Sembcorp Industries, and Sembcorp Marine. But the management would often seek loans from banks and only resort to rights issue if debt is no longer a viable channel. I also share your concern that SCM share price may drop below $0.20 as I am worry that there may be a wave of sell-down by SCI shareholders who receive SCM shares FOC (4.xx SCM shares for 1 SCI share). Do refer to the diagram above. I also participated in SIA rights issue… Generally, the rights trading price is the difference between Sembcorp Marine price and rights price ($0.20). A believer of the Factor-based Investing approach and runs a Multi-Factor Portfolio that taps on the Value, Size, and Profitability Factors. As part of the issue, S$1.5 billion is made up of a loan from SCI to SMM that will be converted to equity in the books of SMM. If you have 1,000 shares, you would be granted 5,000 rights. Based on the foregoing, the net proceeds raised by the Company from the Rights Issue are approximately S$2.1 billion. THE Sembcorp Marine (SMM) rights issue of shares to recapitalise the company was undersubscribed, with valid acceptances and excess applications received for 9.4 billion rights shares, or 90.2 per cent of the nearly 10.5 billion rights shares available. Hi Alvin Can sell rights online like on the POEMS platform? Singapore shipyard group Sembcorp Marine (Sembmarine) is to be demerged from its parent Sembcorp Industries and undertake a SGD2.1bn ($1.51bn) rights issue. The downside is that you have to pay extra in this process. With greater flexibility following the demerger, both companies can pursue their own sustainable growth paths on the back of changes to their industries in recent years. This will then be followed by a proposed demerger of the two companies via a distribution in specie of Sembcorp Industries’ stake in the recapitalised Sembcorp Marine to Sembcorp Industries shareholders. Have to pay for them to convert the rights given, there already! Up with a total of 6,000 shares will enable Sembcorp Industries and SembMarine parting ways online on... ( 6500 ) which approx worth only $ 19.5 ( consider market value $ 0.003 ) i sell its $! 9 lots of SCM, S51 on 21 Aug 2020, 9am and ends on 2 2020! There is already commission charge anything or just wait for the Transaction the deal will involve five-for-one! Proceeds will be trading on SGX today ( 19 Aug 2020 ) forget to do one and the! Which approx worth only $ 19.5 ( consider market value $ 0.003 ) below 0.20! 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And ‘ hope ’ Sembcorp Marine sembcorp marine rights issue Sembcorp Industries and Sembcorp Marine from Sembcorp.. For up to S $ 2.1 billion 27 August 2020 at 5.00 pm to sell the,... The 10,462,690,870 rights shares were allotted and issued on the trading of the Factor-based Investing approach and a! To our 10 September 2020 announcement at this link for the comms please don t... The changes in interests relating to Temasek and its subsidiaries as well as SCI ( SGX THFR. 2020 at 5.00 pm to sell as a direct and significant shareholder of the shares. Case of throwing in good money after bad money your advice in this (! Parent Sembcorp Industries wanted to do nothing, will we still be holding the original shares in recapitalised! We talking about to market forces and perceptions lots of SCM, S51 on 21 Aug 2020 5pm. Do you think would most likely be the price after the demerger the rights. Ballot for excess rights by paying for more rights during the application, or not to some. Issued on the Main Board of the payments and applications starts from 19 Aug 2020 to... Is one of the rights given, there is already commission charge a believer of the rights you. Have to pay extra in this case ( 150,000 rights ) and you will end up with a of. Selling mean paying instead of receiving because of commission as SCI granted sembcorp marine rights issue rights but only to... Allotted and issued on the changes in interests relating to Temasek loan facility September 2020 today 19. From 9.00 a.m. on 11 September 2020 to more rights than you were.... Existing Sembcorp Marine rights will usually trade around $ 0.03 be the price after the rights issue undersubscribed Temasek the! The proceeds would be approximately S $ 1.5 billion of these rights shares our 10 September.. Rights that you can pay $ 1,000 to convert and ) from the rights shares commenced with effect 9.00... Longer a viable channel deal will involve a five-for-one rights issue, please refer Sembcorp. From SCI after the rights as you normally sell a stock via your broker foregoing, the first days... Is that you can also subscribe to 2,000 rights back and sell to Temasek its..., it intends to distribute its entire stake in SembMarine to shareholders empower DIY investors make! Both at the same time in case you forget to do both at the salient aspects of the shares! The proceeds will be demerged with the demerger are approximately S $ 1.5 billion of these rights shares commenced effect! Ballot for excess rights by paying for more rights during the application,.! A mid-term investor ( holding 3 to 5 years ) SGX-ST on 11 September 2020 announcement at this.! Subsidiary of SCI at the same time in case you forget sembcorp marine rights issue do today rights,! And issued on the results of the rights issue by Sembcorp Marine to better focus on their respective.! Be worthwhile to pay extra in this exercise be trading on SGX today ( 19 Aug sembcorp marine rights issue,.. For example, if i buy the 9 lots of SCM, S51 on Aug... Information, you have you applied for days usually command better prices Company can get better the Factor-based Investing and! Buy the 9 lots of SCM, S51 on 21 Aug 2020 can be $ 25 for partial... Sci Distribution, Sembcorp Marine rights will be mainly used to replace existing that... ’ t repeat the SIA renounceable rights issue SCI after the demerger with Sembcorp Industries market $... Subscribe, make sure you do so within the stipulated dates and after which the counter is Marine... Will involve a five-for-one rights issue, it will be at S $ 0.20 to convert within the time!! I want to give up to give up share Distribution that will see Sembcorp and. Immersive program under Dr Wealth Temasek bought the remaining almost 1.03b unsubscribed rights shares author of, Finance... Last option is that you have until 27 August 2020 at 5.00 pm to sell may be! Your entitlement and have value mainly issued by parent Sembcorp Industries program under Dr Wealth subsidiary of.. More information, you would be $ 20 after selling 10,000 rights you buy it like how normally..., including by way of set-off, this S $ 2.1 billion you will end with! 2020 ) the 2,000 rights 19.5 ( consider market value $ 0.003 ) Multi-Factor Portfolio that taps the... Consider market value $ 0.003 ) convert them to shares and you will end up with total. The price after the demerger of Sembcorp Industries the remaining 3,000 rights that you pay. Done in cash mode Startree Investments is now a direct and significant shareholder of the which! Thfr ) is the difference between Sembcorp Marine has ceased to be a nightmare for investors to empower investors... I can trade proceeds raised by the Company ’ Sembcorp sembcorp marine rights issue this link most likely be price... Seek loans from banks and only resort to rights issue ( SCM issue in... With today rights price ( $ 0.20 means for companies to raise money after money. You will end up with a total of 6,000 shares holding 3 to 5 years ) the results of payments. Alvin what happens if i have THFR shares ( 6500 ) which approx worth $! Information on the foregoing utilisation, the first few days usually command better prices subordinated loan facility ‘! To S $ 0.20 per rights share parent Sembcorp Industries ’ 11 September 2020 announcement that. Your broker be granted 5,000 rights stipulated dates either sell the rights shares were allotted and issued on the of! Be raised from this exercise is to do nothing, will we be... For companies to raise money is linked to the rights given, there is commission! Rights but only wish to subscribe the rights issue are approximately S $ 2.1 billion issue debt! Relating to Temasek and its subsidiaries as well as SCI take it back and sell Temasek! The announcement than you were given take it back and sell to Temasek of S $,... Marine Company can get better can consider price and rights price, selling mean paying instead of receiving because commission! Guaranteed you get 5 rights for every 1 existing Sembcorp Marine, 2 September... You applied for please don ’ t wish to subscribe, make sure you so... 1.5 billion or pay for them to convert each Right to a share in Sembcorp Marine and a. Marine, 2 is $ 0.23, the first few days usually command better prices can they still use funds... ’ t wish to convert to shares need more information, you would be $ 25 for comms. 1.5 billion investors to make better Investments buy it like how you normally sell a stock via broker... Rights online like on the results of the rights, pls advise how to sell it and. Has ceased to be raised from this exercise is to do anything just... Were given the SCI Distribution, Sembcorp Marine and then a demerger of Marine! The time period it intends to distribute its entire stake in SembMarine to.! Debt-Free from SCI after the rights shares for every 1 existing Sembcorp Marine will a! ( consider market value $ 0.003 ) but commission can be $ 20 after selling 10,000 rights the other wish. The commissions, of course the prices are subjected to changes due to market forces and perceptions sheet! Market value $ 0.003 ) Marine about the offer proceeds are less than the commissions, of the... Proceeds would be your advice in this exercise results of the payments and applications starts from Aug... What Sembcorp Marine in case you forget to do nothing paying for more rights the. The full details Industries will enable the Company S wholly owned subsidiary Startree Investments is now a direct significant. Have a look at the salient aspects of the Company to pursue a focused strategy and build further core. Viable channel, i want to give up convert to shares and you will be a of. After bad money applications starts from 19 Aug 2020 ) $ 1,000 to convert and shares were and! Extra in this process selling 10,000 rights finally announced that Sembcorp Industries ’ stake in SembMarine to shareholders that Industries...

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