Rajah & Tann Singapore advised DBS Bank Ltd. in respect of the renounceable underwritten rights issue of up to 18,833,468,826 new ordinary shares in the capital of Sembcorp Marine Ltd (“Sembcorp”), to raise gross proceeds of approximately S$1.5 billion (the “Rights Issue”). DBS Bank Ltd. was appointed as the sole financial adviser, manager and underwriter for the Rights Issue. Another team in the firm also acted for Startree Investments Pte. Ltd. (“Startree”), a substantial shareholder of Sembcorp, on the Rights Issue by Sembcorp and the mandatory general cash offer by Startree for all the issued and paid-up ordinary shares in the capital of Sembcorp.
Partners Raymond Tong, Lawrence Tan and Cynthia Wu advised DBS Bank Ltd. on the Rights Issue; and Partners Sandy Foo, Hoon Chi Tern and Goh Jun Yi acted for Startree on both the Rights Issue and mandatory general cash offer.