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

📆 9/30/2020 5:35 AM
📰 BusinessTimes

⏱ Reading Time:
22 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

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."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weibo parent Sina to delist US stocks in US$2.6 billion dealChinese Internet giant Sina has announced plans to delist its US shares and go private, making it the latest to withdraw from the country's stock ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street opens higher led by banks, travel stocksU.S. stock index futures rose on Monday as hopes of a global economic recovery were supported by data showing continued growth in China's ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »