Hot stock: Sembmarine shares rise 2.8% as investors gain optimism on potential merger

📆 2020-09-30 7:35 AM
📰 BusinessTimes

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SEMBCORP Marine (SMM) shares rose 2.8 per cent on Wednesday following Keppel Corporation's Vision 2030 update on Tuesday which included the commencement of a strategic review of its offshore and marine (O&M) segment. Read more at The Business Times.

KGI Securities analyst Joel Ng told The Business Times that"more people have been showing interest in SMM following Keppel's update, as investors grew optimistic about a potential merger".

He said the brokerage's clients wanted to know if Keppel's plans for the O&M segment's review had involved Temasek, as well as the timeline of the strategic reviews. "While it is still too early to predict anything about SMM, the recent announcement is definitely a positive for Keppel's share price which should see a rerating if they decide to sell or divest their O&M segment."

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