Sembcorp Marine's Shares Face Dilutive Effect From Proposed Merger -- Market Talk

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Sembcorp Marine's Shares Face Dilutive Effect From Proposed Merger -- Market Talk

Dow Jones2022-04-28

0454 GMT - Sembcorp Marine's shares face a dilutive effect from the company's proposed merger with Keppel's offshore-and-marine unit, Citi analysts say in a note. Sembcorp Marine's shareholders should brace for a net-tangible-asset dilution to S$0.07/share from S$0.12/share for the combined entity, given its assessed S$8.7 billion fair value estimate, they say. This is because Keppel will hold 56% of the new entity while Sembcorp will have the remaining 44%, the analysts say. Though the new entity's larger platform may provide scale benefits, it also means navigating a larger cost base that will require a steady flow of order wins. Citi has a buy rating on Keppel and a sell rating on Sembcorp Marine. (yongchang.chin@wsj.com)

$(END)$ Dow Jones Newswires

April 28, 2022 00:54 ET (04:54 GMT)

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LIMCHENGZU
·2022-04-28
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·2022-04-28
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Though the new entity's larger platform may provide scale benefits, it also means navigating a larger cost base that will require a steady flow of order wins. Citi has a buy rating on Keppel and a sell rating on Sembcorp Marine. (yongchang.chin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 28, 2022 00:54 ET (04:54 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sembcorp Marine's Shares Face Dilutive Effect From Proposed Merger -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSembcorp Marine's Shares Face Dilutive Effect From Proposed Merger -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-28 12:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0454 GMT - Sembcorp Marine's shares face a dilutive effect from the company's proposed merger with Keppel's offshore-and-marine unit, Citi analysts say in a note. 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Sembcorp Marine's shareholders should brace for a net-tangible-asset dilution to S$0.07/share from S$0.12/share for the combined entity, given its assessed S$8.7 billion fair value estimate, they say. This is because Keppel will hold 56% of the new entity while Sembcorp will have the remaining 44%, the analysts say. Though the new entity's larger platform may provide scale benefits, it also means navigating a larger cost base that will require a steady flow of order wins. Citi has a buy rating on Keppel and a sell rating on Sembcorp Marine. 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(yongchang.chin@wsj.com) \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  April 28, 2022 00:54 ET (04:54 GMT)\n\n\n  Copyright (c) 2022 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104391072,"gmtCreate":1666056827757,"gmtModify":1666056831177,"authorId":3582350348015234,"author":{"id":3582350348015234,"authorId":3582350348015234,"name":"Ag1718","avatar":"https://community-static.tradeup.com/news/7b99db6dd9dd4eaa84bd8baf04aad0b9","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9060876796,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">👍🏻🍭</span>","text":"<span class=\"s1\">👍🏻🍭</span>","html":"<span class=\"s1\">👍🏻🍭</span>"}],"langContent":"EN"},{"id":9060849103,"gmtCreate":1651127995324,"gmtModify":1676534855711,"author":{"id":"3577323914202336","authorId":"3577323914202336","name":"V K","avatar":"https://static.tigerbbs.com/536d624e5750dcffec704eeed9bc003b","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":5,"crmLevelSwitch":1},"htmlText":"Pls like tyvm[Happy]&nbsp;","listText":"Pls like tyvm[Happy]&nbsp;","text":"Pls like tyvm[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9060849103","repostId":2230639418,"repostType":2,"repost":{"id":"2230639418","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1651121640,"share":"https://www.laohu8.com/m/news/2230639418?lang=&edition=full","pubTime":"2022-04-28 12:54","market":"hk","language":"en","title":"Sembcorp Marine's Shares Face Dilutive Effect From Proposed Merger -- Market Talk","url":"https://stock-news.laohu8.com/highlight/detail?id=2230639418","media":"Dow Jones","summary":"0454 GMT - Sembcorp Marine's shares face a dilutive effect from the company's proposed merger with K","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0454 GMT - Sembcorp Marine's shares face a dilutive effect from the company's proposed merger with Keppel's offshore-and-marine unit, Citi analysts say in a note. Sembcorp Marine's shareholders should brace for a net-tangible-asset dilution to S$0.07/share from S$0.12/share for the combined entity, given its assessed S$8.7 billion fair value estimate, they say. This is because Keppel will hold 56% of the new entity while Sembcorp will have the remaining 44%, the analysts say. Though the new entity's larger platform may provide scale benefits, it also means navigating a larger cost base that will require a steady flow of order wins. Citi has a buy rating on Keppel and a sell rating on Sembcorp Marine. (yongchang.chin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 28, 2022 00:54 ET (04:54 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sembcorp Marine's Shares Face Dilutive Effect From Proposed Merger -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSembcorp Marine's Shares Face Dilutive Effect From Proposed Merger -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-04-28 12:54</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0454 GMT - Sembcorp Marine's shares face a dilutive effect from the company's proposed merger with Keppel's offshore-and-marine unit, Citi analysts say in a note. Sembcorp Marine's shareholders should brace for a net-tangible-asset dilution to S$0.07/share from S$0.12/share for the combined entity, given its assessed S$8.7 billion fair value estimate, they say. This is because Keppel will hold 56% of the new entity while Sembcorp will have the remaining 44%, the analysts say. Though the new entity's larger platform may provide scale benefits, it also means navigating a larger cost base that will require a steady flow of order wins. Citi has a buy rating on Keppel and a sell rating on Sembcorp Marine. (yongchang.chin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 28, 2022 00:54 ET (04:54 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BN4.SI":"吉宝有限公司","BK6504":"工业制品概念","BK6065":"建筑机械与重型卡车","KPELY":"Keppel Corporation Limited","BK6523":"ESG概念","BK6505":"周期性消费品与消费者服务","BK6111":"工业集团企业","BK4206":"工业集团企业"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2230639418","content_text":"0454 GMT - Sembcorp Marine's shares face a dilutive effect from the company's proposed merger with Keppel's offshore-and-marine unit, Citi analysts say in a note. Sembcorp Marine's shareholders should brace for a net-tangible-asset dilution to S$0.07/share from S$0.12/share for the combined entity, given its assessed S$8.7 billion fair value estimate, they say. This is because Keppel will hold 56% of the new entity while Sembcorp will have the remaining 44%, the analysts say. Though the new entity's larger platform may provide scale benefits, it also means navigating a larger cost base that will require a steady flow of order wins. Citi has a buy rating on Keppel and a sell rating on Sembcorp Marine. (yongchang.chin@wsj.com) \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  April 28, 2022 00:54 ET (04:54 GMT)\n\n\n  Copyright (c) 2022 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":4,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}