Sembcorp Green Infra Raises USD15.7 Million in Rights Offering of Shares

Published: Aug 17 2017
Deal Summary

Sembcorp Green Infra Ltd., a renewable power generation company and a subsidiary of Sembcorp Industries, has completed the rights offering of shares for gross proceeds of SGD21.4 million (USD15.66 million).

The rights issue was subscribed to by Sembcorp Utilities Pte Ltd, a wholly owned subsidiary of Sembcorp Industries. Sembcorp Utilities financed the subscription through internal funds. Following the transaction, Sembcorp Utilities stake in Sembcorp Green Infra has increased to approximately 72%.

The company intends to use the proceeds to fund its growth in the renewable sector in India.

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