Sale of stake in SembCorp Logistics
The 42,539,876 shares (around 5 per cent of SembLog’s share capital) with a nominal value of SGD 0.25 per share were sold to J.P. Morgan (S.E.A.) Ltd. Singapore for subsequent placement with international institutional investors. The total purchase price amounts to SGD 94.6 million.
This step completes the unwinding of the cross shareholding agreement between SembLog and Kuehne + Nagel.