Sembcorp Industries shares jump, spurring SGX query

Electricity advertisement for Sembcorp IndustriesElectricity advertisement for Sembcorp Industries

Sembcorp Industries shares jumped Thursday, spurring a query from SGX on the unusual rise and increased volume. 

The shares ended up 5.9 percent at S$2.87, after touching S$2.905 intraday. 

The company said it wasn’t aware of any information not previously announced or any other reason to explain the trading. 

“As part of executing the company’s transformation strategy, the company is always evaluating and strategically bidding on certain opportunities. At this moment, to the best of the company’s knowledge, there is no transaction that is likely,” Sembcorp Industries said in response to the queries from SGX.

“However there have been media articles as recent as a few days ago that speculated on certain of such opportunities,” the company said.

Earlier this week, Indian publication Mint reported, citing people familiar with the matter, that Sembcorp Industries, Enfinity Global and JSW Group were all shortlisted to acquire green energy producer Mytrah Energy India.

In mid-March, Bloomberg reported, citing people familiar with the matter, that Sembcorp Industries had expressed interest in the bidding to acquire Indian renewable energy provider Sprng Energy, although Shell was seen as a strong contender in the bidding. 

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