The mandatory general offer by Temasek Holdings for Sembcorp Marine (Sembmarine) has turned unconditional after the total shares it owns, controls or agreed to be acquired have crossed the 50 per cent threshold.
In a bourse filing on Monday night (Nov 1), Temasek disclosed that it has garnered acceptances equalling to 4 per cent of Sembmarine's total shares. This brings the shares the sovereign wealth fund owns, controls or agreed to be acquired to 50.6 per cent of Sembmarine's total shares.
It is a very sad story for retail investor who hold the Sembcorp Marine long term. The offer price is almost 52 weeks low price, 52 weeks low 0.079, offer price 0.08. Since the offer is uncontional, retail investores have no choice.
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