Sembcorp shares rally on talk of strategic review of business

Shares of Sembcorp Industries rallied on March 18 on talk that the company is carrying out a strategic review of its business, with various possibilities under consideration, including potentially going private or selling some assets.

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The Singapore firm, which is backed by state-owned Temasek, is working with a financial adviser on the review, people with knowledge of the matter said.

Considerations are at an early stage and Sembcorp may decide not to pursue any deal, they added.

Sembcorp shares jumped when trading began on March 18 and rose as much as 4.2 per cent to $6.355, before closing up 1.6 per cent at $6.20.