Shares in Sembcorp opened at $6.355 on March 18, 25.5 cents higher or 4.19% up, after the group issued a response to a Bloomberg article published the day before.
In its statement, Sembcorp says it “continually reviews its portfolio to optimise shareholder value” and that it may “engage with external advisors to consider available options” from time to time.
On March 17, Bloomberg reported that Sembcorp may look at potentially going private or sell some assets amid conducting a strategic review of its business.
A Sembcorp spokesperson said the group will “make the necessary announcements” per the Singapore Exchange ’s (SGX) listing rules when there is a “material” update and when it has “progressed to a stage where there is a high level of certainty”.
In FY2024 ended Dec 31, 2024, Sembcorp reported earnings of $1.01 billion, 7% higher y-o-y. The group’s continuing operations are divided into five main segments: gas and related services, renewables, integrated urban solutions, decarbonisation solutions and other businesses and corporate.
As at 12.06pm, shares in Sembcorp are trading 11 cents higher or 1.8% up at $6.21.
