Temasek-backed lifeline proposed for Sembmarine
Singapore sovereign wealth fund commits to subscribe up to S$600m of new rights shares to be issued by Sembmarine. This will mean Sembmarine will raise S$2.1bn from the proposed rights issuance, which will help the yard group deleverage and ride through the rest of a protracted downturn
Temasek is set to emerge as a direct shareholder in Sembmarine, with parent group Semb Industries exiting from the yard group
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