Tuesday, March 6, 2012

Temasek raises $328m from SembMarine stake sale

Singapore state investor Temasek Holdings sold 62.4 million shares in oil rig maker Sembcorp Marine at $5.25 a share raising $327.6 million, two sources with direct knowledge of the deal said.

"Yes, it has been priced and allocated," a source told Reuters.   

The final price is at the lower end of a tight pricing range of $5.25-$5.30 a share, according to a term sheet seen by Reuters, representing a discount of 2.75% versus Sembcorp Marine's last closing price.

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